BTCUSD: big movements take time to develop. J. Livermore
Hello fella traders)
It's been some time since the last analysis whereat BTC was resting at 8750-ish. I was expecting price to react to 8600 level stronger than it has indeed done.
It is no secret that price now develops in a form of so called "falling wedge". Bullas (including myself) expect price to explode upwards and bearass expect just the opposite.
We may just as well observe a failed breakdown prior to price reversing back up. So be prepared.
I will be looking for a price action between 8230-8370 if we get there. Otherwise I am looking for a bullish price momentum from the current zone. But I really need to see bulls stepping in.
SFP of 8355 low would be an ideal scenario for me.
Take care
It's been some time since the last analysis whereat BTC was resting at 8750-ish. I was expecting price to react to 8600 level stronger than it has indeed done.
It is no secret that price now develops in a form of so called "falling wedge". Bullas (including myself) expect price to explode upwards and bearass expect just the opposite.
We may just as well observe a failed breakdown prior to price reversing back up. So be prepared.
I will be looking for a price action between 8230-8370 if we get there. Otherwise I am looking for a bullish price momentum from the current zone. But I really need to see bulls stepping in.
SFP of 8355 low would be an ideal scenario for me.
Take care
Note
Dirty bullass you better step in nowNote
ok bullas you do well but can still do better...just need to close this daily candle within the grey box, easy
Note
D - for DisappointmentOn the hourly price reacted to failed support which flipped to resistance
On the daily the bar has closed through the line of support
Bulls have got to reclaim the grey box o.w. fucked
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.