Bitcoin is once again stretching at the top of a big bullish channel. But RSI is getting tired so we need a short plan.
Using a 1-2-3 strategy, we should aim for fibo targets within the bullish channel, with the expectation of a quick visit to the bottom of the channel. Be advised we also have a previous bull channel which offers support for a bounce depending on the intensity of the selloff.
If we fail to breach the current downturn formation to the upside, we can set a MIN TP of $7486 and then let it ride all the way to the MAX TP at $6829.50. Here is a closer look:
Alternatively, if we break the all time high and follow through to $8425, we will visit $9421 followed by targets between $10250 and $11800.
Using a 1-2-3 strategy, we should aim for fibo targets within the bullish channel, with the expectation of a quick visit to the bottom of the channel. Be advised we also have a previous bull channel which offers support for a bounce depending on the intensity of the selloff.
If we fail to breach the current downturn formation to the upside, we can set a MIN TP of $7486 and then let it ride all the way to the MAX TP at $6829.50. Here is a closer look:
Alternatively, if we break the all time high and follow through to $8425, we will visit $9421 followed by targets between $10250 and $11800.
Trade ativo:
Ok... if we get stopped out its only a small loss.
Comentário:
Nice!
Trade fechado: stop atingido:
Hahaha. Double fakeout! We can play along...lets see if we get a breach of the pivot line again.
Trade ativo:
Let's try this again. Its only 2% loss if we get stopped out. You want to move your stop to entry once your back at the pivot to make things risk free, though, remember!
Trade fechado: stop atingido:
BTC is a beast!
Comentário:
Third time's a charm?
Trade ativo
Comentário:
Oh my we are trading above the bull channel... I had to go long to cover my shorts. The last time we traded above the big channel like this, it was short lived with an abrupt trend change. But shorting above the channel is dangerous as it could go parabolic. Good luck to you guys. Lol
Comentário:
Here's the play by play for the beginning of the last corrective move.
Comentário:
$9000! Holy S**T.
$9219 is a confluence area for those of you who are long. BUt the secondary bull channel is resistance now. Oddly, the bearish divergence on the 4HR has disappeared...LOL
$9219 is a confluence area for those of you who are long. BUt the secondary bull channel is resistance now. Oddly, the bearish divergence on the 4HR has disappeared...LOL
Trade fechado manualmente
Comentário:
KISSED $9421. Above that its veryyy bullish
Comentário:
We are now at the top of the secondary channel and see some selling but its till super bullish. Let's watch for a rejection at the confluence zone at $10K
Comentário:
RSI is getting a little tired on these TFs, let's watch for a rising wedge reversal.
Comentário:
BTC looks set to break the tertiary wedge. Be careful around the fibo extension lines here (solid channel lines).
Comentário:
Hahahaha
