After doing a retrace to 23.6% at 260.95 we have another bullish micro-trend. Next target is 280, and we will monitor the trend carefully as it is coming off a higher low(252 previously)
Within the next 3 days we will see a critical shift in Bitcoin on whether it resumes its very strong microtrend it had when we bounced off 252, or if it'll plummet to sub 252, in particular 240 as its next resting spot before further supply pounds it's lack of demand.
Excessive profit taking, shorts, and stop-raids will add up to a much needed correction after consecutive days of bull runs where longers did no wrong.
Testing a theory based on particular retraces and the effect of profit and loss on the individual as well as price value from a recent ATL.
Our attempts at 280 and adherence to the 270 channel make we think we will return here before the next attempt at making a new high.
Disregarding any current position i believe the apex happens within this particular time frame, dewm or mewn will ensue.
Thinking of this in relevance to the current situation BTC is facing. As per static.safehaven.com Credit to twitter.com for referencing Wycoff to me.
Extremely pivot moment in BTC right now. I personally have a long position.
Original 2013 Support is still working to prevent the drop to 275.
Currently in a short wondering if the bullish block order at 317 will hold. I have a close for half of my contracts around 318. The block order from 304 is quite huge, and if they let it crumble we could see sub 300's like we always thought.
Bulls have end of the year and Christmas on their side. Sometimes sentiment is so intense that being a contrary thinker is actually detrimental.
Starting with a rise from tonight off the ever so critical 315-319 range, I think we move into new territories of enthusiasm around the 28th. We need to build these rallies to give the masses the perception that bitcoin has hope above speculation.. However, what we all know will happen is that as soon as it reaches the peak of euphoria we'll all dump our...
This is a look at OkCoin Futures 1W and we see despite its massive drop, it is fighting back. It has a ton of resistance to go through, most notably 344 and beyond. These are overlapping fibs from 1M/1W/3D/12HR/6HR/4HR to show the obstacle course to the top.
Long with Confirmation, short if 61.8% breaches(302)