Here we have a FVG (Gray Box) with an overlapping PD Array in the form of a Short Term Low (White Line). I am waiting for entry confirmation which will be a Bearish Fair Value Gap in between timeframes 3-5 Minutes or higher. My Target is $95,285.22.
Beautiful isn’t it? Perfect set up, we have a 1HR FVG that got retraced into and an overlapping PD array in the form of the STH. Entry confirmation will be a order flow leg on the timeframes 3-10 at the Fair Value Line ($2770.29) targeting the short term high of $2918.00. More or less a 5% move depending on entry.
This is simple, Trumps Election win caused a massive rally with no retrace back to November 6th. We have to balance out that price action before we break the ceiling of $4,000. I also believe we had a massive gain on Crypto New Comers and this is the way they will get wiped out. Call it a Bear Trap, Shakeout, Liquidator. We will eventually climb back up.
I’m not allowed to post lower TF set ups but I’m in calls up to 591.25
We caught the move down and we are now reacting perfective off this zone 0.382 level. Price is very choppy in this zone and has made no lower lows in the lower time frames. Waiting for EMA to line up bullish before we take entry in shorter time frames. I will be entering a swing position once we have a strong indicator of a reversal.