Nice reversal in the making. I have entered a trade here to go long. Red lines are profit zones. Price will fly once it goes beyond 1.5 area... Price is in accumulation phase. Look out for a break towards the upside! Enjoy
Nice looking setup to go long. Blue lines is my entries. I am hoping for a pullback into that zone to pick up my entries. The zone is a nice orderblock and price needs to mitigate that zone. Solid setup! Might take a day or 3 to develop... but solid as a rock. First higher high is in from the break of structure. Now we go back to create a higher low....and off we go!
Nice looking setup to catch the trend back up. Red block is a liq area that needs filling. I have placed some buy orders down below in an area im looking at for a reverse for continuation up. Crypto market is strong atm so let's see if the trend gives us this entry. Too risky to short. Will just wait for the pullback and long it up.
What do bearflags normally do? :) We should see that final ABC correction play out until next year this time. A macro bearish pattern that will come to an end. C leg is in motion. Don't ask me what will happen with crypto once we hit that green bottom zone next year! LOL. If, and if we break this macro pattern and we land at the bottom of this macro pattern...at...
I just don't see the bearishness on BTC? We have not broken any support structure on the weekly... bullflag breaking out at the moment. Currently just testing the breakout. RSI have broken bear structure weeks ago. Clear continuation of trend. If you bearish on a 5min TF... thats ok, but daily and weekly bearishness might get hammered. Close of weeklycandle below...
I have shared a possibility earlier today with a $200 target... but I have revised it to this setup... that is more plausible. The reason is that we work with diminishing returns on each cycle... The $120 target is more plausible with the help of the fib pitchfork channel. A break into the top part of the channel, with result in a $400 target. Highly unlikely for...
If we can get a nice pump above the midline of my channel... possibility is there to hit the $200 target. The midline shows some good respect on price action and gives a good indication of the validity of my channel. Getting above it might give us a good return. We are close to moving up. All little pullbacks are buy opportunities.