When will not recover within next 1D candle over 7300$ then:
- Bullish Butterfly ideally forming on fibo, 1,272 point D is at 4420$
- Bullish AB=CD at 4840$
- Old Fibo extension from 11k, at 38.2% is 4700$ (50% of this fibo worked on 5th of February at 5800-6000$)
- Strong supports at 4400$ and 4800$ (yellow lines)
- Strong trend line (white)
- Strong trend line at around 4000$ (orange line)
On 14th of may start the most important summit in blockchain industry called Consensus 2018, around which we had bullish market.
I will wait till the dip and I will place my buy order at 4500$, and then will follow the market and add definitely at 4000$ if it ever happens (if not then add on 4800$ and on the way up)
Possible side market after drop that low for some time
- Bullish Butterfly ideally forming on fibo, 1,272 point D is at 4420$
- Bullish AB=CD at 4840$
- Old Fibo extension from 11k, at 38.2% is 4700$ (50% of this fibo worked on 5th of February at 5800-6000$)
- Strong supports at 4400$ and 4800$ (yellow lines)
- Strong trend line (white)
- Strong trend line at around 4000$ (orange line)
On 14th of may start the most important summit in blockchain industry called Consensus 2018, around which we had bullish market.
I will wait till the dip and I will place my buy order at 4500$, and then will follow the market and add definitely at 4000$ if it ever happens (if not then add on 4800$ and on the way up)
Possible side market after drop that low for some time
Comment:
placed several longs yesterday (chart from yesterday)
Comment:
Panic into 4.5k$ is still possible as one of scenarios from my new idea update
Trade active:
shorting 7.7k$ success.
- potential panic zone under 7050$ activated
- panic zone under 6600$ activated
- crossed down trend channel as partially confirmed panic mode activated
- although crossing down to 6100$ trend channel could be still shake(fake)out
Possible outcomes from now:
1) rise up to 7100$
2) rise up to 6600$ then full panic mode
3) panic mode from now
When buy? Look for high funding rates across margin trading markets and also record high volume, high bounce will be confirmation.
Target of panic is 5200$ with maximum range to 4600$
- potential panic zone under 7050$ activated
- panic zone under 6600$ activated
- crossed down trend channel as partially confirmed panic mode activated
- although crossing down to 6100$ trend channel could be still shake(fake)out
Possible outcomes from now:
1) rise up to 7100$
2) rise up to 6600$ then full panic mode
3) panic mode from now
When buy? Look for high funding rates across margin trading markets and also record high volume, high bounce will be confirmation.
Target of panic is 5200$ with maximum range to 4600$