Isn't it fun to stare at Bitcoin and go up and down up and down up and down !!
1st of all. I in the beginning was expecting correction at 10k just based on physiological levels like we did near 5k but it was taken out and ran to 11k in few minutes.
Based on extensions and history we were looking at 261% which was 11.8kish. It was also the bull flag % projection so my intital shorting range was 11.7k to 11.9k but it touched 11.5 k and went south.
In a matter of minutes we saw a flash crash to 9400 levels and 8900 levels on some exchanges. which is also a 161% of the fib extension.
Now we are back up again at 10k. What to do next?
Based on again last fib levels and extensions we should be looking at reversal between 7.8k to 8.3k( 100-121% of fib levels) is past this is where it almost hits and goes back up. But what if this time it is actually a bubble and what if it doesnt go back up like in 2013's? Well there is a lot of hype for no reason now with futures and now nasdaq is also launching so every single person has easy access of futures. This news is bullish overall but based on indicators which are totally exhaust. We saw a lot of bearish divergences as well.
My plan is to wait for a correction if we get to the levels i mentioned OR Go long at 12k ( new ATH) I WILL not touch 11.5k to 12k region as there is possibility of reversal.
On the other hand analyst could tell you a different story and could give u a picture where BTC is going to 25k .
1st of all. I in the beginning was expecting correction at 10k just based on physiological levels like we did near 5k but it was taken out and ran to 11k in few minutes.
Based on extensions and history we were looking at 261% which was 11.8kish. It was also the bull flag % projection so my intital shorting range was 11.7k to 11.9k but it touched 11.5 k and went south.
In a matter of minutes we saw a flash crash to 9400 levels and 8900 levels on some exchanges. which is also a 161% of the fib extension.
Now we are back up again at 10k. What to do next?
Based on again last fib levels and extensions we should be looking at reversal between 7.8k to 8.3k( 100-121% of fib levels) is past this is where it almost hits and goes back up. But what if this time it is actually a bubble and what if it doesnt go back up like in 2013's? Well there is a lot of hype for no reason now with futures and now nasdaq is also launching so every single person has easy access of futures. This news is bullish overall but based on indicators which are totally exhaust. We saw a lot of bearish divergences as well.
My plan is to wait for a correction if we get to the levels i mentioned OR Go long at 12k ( new ATH) I WILL not touch 11.5k to 12k region as there is possibility of reversal.
On the other hand analyst could tell you a different story and could give u a picture where BTC is going to 25k .
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Pumped in the last 2 minutes lol. not engulfing anymore:(
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Market is moving pretty quick and touched 8.85 level. Bounce is expected at this level.
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got a breakout
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I H&S Played out . I am staying out until we decide direction.
1D bearish englufing candle! this is what we needed.