BTC Low sweep LONG play

7 de dez. de 2018

BTC has characteristically swept the lows or highs before any subsequent move up. If this time is no different, I expect a drop to the lows of the day, before a rapid ascent to the next resistence.

8 de dez. de 2018

Nota

The sweep triggered my stops before continuing in the anticipated direction. I underestimated the depth, having 1% below local low as my area - backtested to a degree. I was expecting a fast candle up to the shorting area, but the wick stopped short. It remains to be seen if price will attain the short level. If it does so in a steady fashion my short-term bearish bias will switch to short term bullish, as this will give time and space, reflected in the SMA's travelling in the same direction. In all that would be a reflection of momentum and sentiment to the upside.