Analysis on chart.
Market tops tomorrow 14/04/2020 at 8k. thats where we short.
looking to compete the fib 1.27 extension to an area of huge buying . Sell now, look for entry around 5200.
price at long term support. buy for at leat a retest of the breakdwon
2 prior attempts to push the market down have failed. third attempt is happening in real time. if it fails we have a pre-existing condition for a long term bullish trend.( Higher high , higher low) its definitely a risk one should take
Dont be fooled by the correction. A pattern must resolve in both time and price, its the one true thing in this sea of uncertainity. As you can see we are still in the range between 7500 and 6800 , A double top is beginning to form at around 7500, and in Trading ranges you sell high and buy low. This is from a weekly chart so we filtered the noise from the lower...
Sell now No reason other than bullish exhaustion which is self evident. Sudden loss exit at 7500
Dont overthink it! price has broken above resistance and confirmed the shortterm/longterm -(irrelevant to a trend follower) momentum
looks like the bottom is in the Fib 0.886. Volatility has contracted allowing parasitic traders to latch on to this trend with a tight stop and help themselves.
This Bullish shakeout is an indication of how cold and brutal traders can be against other traders, 600 million longs liquidated at bitmex?? The Market is heavily bullish. dont let recency bias cloud your judgement.
Final wave, sell at the market take profit at 9400, can they make it more obvious than this?
BTC is remounting the bearish trendline now after the consolidation pattern is timed out. Volatility has been pushed to the limit, We welcome volatility back into the traders equation and once it is injected into price the direction is very clear... Upwards!!
A short term sell opportunity to around 10,200 then the move to 20k resumes. On Balance Volume is Stalling 2-Period RSI nearing overbought. Market rising on falling Volume. As volume leads price the bears are in charge momentarily. entry is sell at the market.
Three white soldiers on good volume. the sideways trading range is officially over. Taking out 20k in weeks.
Magical Confluence at play here, 61.8 fib retracement level, double bottom, a flag in a bull trend. i expect a test of the 103332 area then off to 34k we go. if you calculate the time it takes to form this trading range against the time of the Explosive move that precedes it we can calculate when to buy to a specific day.
Well here we resume the bullish trend. the final flag in Pure price action, the fourth wave in an elliot wave structure, Reverse head and shoulders in chart patterns, or an ascending triangle in my Repertoire. call it what you like buy the final impulsive wave is live. hold for a little correction to the 11500 area hopefully bearish momentum peaks and bull...