Full original post here: aurie.me/bitcoin-fomo-edition/ (I'm not selling anything)
Quoting In Part:
Broader terms looks bullish AF and BTC looks like it's come back to life. Enormous upside potential and resounding bullish technicals.
On the down side, there is no support for these prices. A pullback could be dramatic and almost seems logical. We have to wait for cover to get long . Luckily, the R:R potential here on shorts is also very attractive – if we’re careful (explosive upside potential in the background).
Selling lower highs on the 4H plus seems like a good plan while we wait to buy higher lows.
The best entry confirmation for me is a volume burst confirming effort (15M is okay). Whichever way you’re going, wait for the burst to establish the range and for a low volume pullback to enter. If you notice the market come to a near silence after the chaos – giving back much of the range, that is last call for discount. You better be on it because it’s a fast train outta the hurt locker. You need to get as extreme in the range as possible for your entry because your stop is a new high or low (depending on side) of the volume burst candle. The more extreme, the lower your risk, the bigger your position size. Make sense? Thought so.
TV BONUS: 3 trade plans (see chart) for the current BTC market
Quoting In Part:
Broader terms looks bullish AF and BTC looks like it's come back to life. Enormous upside potential and resounding bullish technicals.
On the down side, there is no support for these prices. A pullback could be dramatic and almost seems logical. We have to wait for cover to get long . Luckily, the R:R potential here on shorts is also very attractive – if we’re careful (explosive upside potential in the background).
Selling lower highs on the 4H plus seems like a good plan while we wait to buy higher lows.
The best entry confirmation for me is a volume burst confirming effort (15M is okay). Whichever way you’re going, wait for the burst to establish the range and for a low volume pullback to enter. If you notice the market come to a near silence after the chaos – giving back much of the range, that is last call for discount. You better be on it because it’s a fast train outta the hurt locker. You need to get as extreme in the range as possible for your entry because your stop is a new high or low (depending on side) of the volume burst candle. The more extreme, the lower your risk, the bigger your position size. Make sense? Thought so.
TV BONUS: 3 trade plans (see chart) for the current BTC market
Again, I'm really bullish on this but until I see some tested support I'll draw my own line in the sand for spots. If we come back and test these local lows with some volume than my long targets will need to be updated.