It looks like we are going to probably go test the bottom of our accumulation area in BTC here. 33k looks like it aligns with this rising wedge break-out that we are getting.
I may be wrong, but it looks like the market makers want to go test our support below here. Buyers, will you step in?
Thanks!
I may be wrong, but it looks like the market makers want to go test our support below here. Buyers, will you step in?
Thanks!
Trade active:
If this idea is correct - it looks like we go up and test the trendline at 38-39k before dropping.
Comment:
something to consider is that it did bounce off of the previous downtrend
Trade active:
and there is some confluence for this bearish idea.
Trade active:
tehre you go - quad confluence for upper 32k's to 33ks.
Trade active:
30K looking like a likely destination, too.
Trade active:
oversold bouncing at the previous downtrend - I guess that you could consider this a 618 bounce, too.
Comment:
Trade active:
Very close to the target. I'd keep the stop very tight from here if you are short.
Trade closed: target reached:
This may be it for this correction - came pretty close to the target.
Trade active:
Certain take profits if you are short. We may still visit lower levels - but this S/R area has confluence with a 4.236, and I think that is solid. This was also the 618 pocket area.
Comment:
Pretty good chance that is it for this correction - 34.7k needs to hold, but with this confluence and how well the fibs fit - it looks good to me.
Trade closed: target reached:
Alright, if I were short, I'd be taking even more profit now - the rising wedge has played out. Successful short trade. Anything else from here is bonus.
Trade closed: target reached:
came within about 1% of the original target - I'd of closed my short there. Success!
Comment:
getting rejected at downtrend so far.
Trade closed: target reached:
Lol, BTC still following that fib sequence.
