using the current BTC volatility, if this pattern plays out im looking short term bearish for a slow burn upthrust in a bullish scenario. if lucky enough we get the UTAD which takes us to new highs!
*major indicator* twitter is lit up with "crypto influencers" who have crawled out of their caves. the hopium is high which tells me we need another big pullback here...
Learning for B.
So what happens if the long standing trend line breaks? then what? there is another one so never fear. if the bottom side trend line breaks, i have a new target view of the market.
so if this support breaks, there is a Larger one that has been in since the March Crash.
If this mid term support breaks the market momentum will attempt to run to...
For B's Learning.
Using some of the most basic features, right now was a good spot for a low Risk Vs Reward position.
There is a long standing support close by since the March low, I will increase my position if it drops to the .78 Fib before support line is higher.
I will follow just under the support line with my stop loss, currently a 2.75 Risk to reward....
So this is my full bear view for the next couple months, this is if we are going through an ABC correction with a 1:1 extension of wave A.
We have retraced back up to the .78 Fibbonaci level and running out of steam with wyckoff theory of distribution on the 4hr candles.
there is every chance this is could be the first wave of of an impulse wave, so when it...
IOST set up nicely on the 4hr chart, first sign of bullish divergence on RSI since correction, the stoch RSI also has reset ready for the next drive, indicators are showing ready for a surge to 600+ sats.
