If you want more background read the linked post on the Bump and Run formation and its reliability. This post assumes you know the terms and how to target set. The post is tagged long due to my swing trade being in long.
BTCUSD has found support on both the 200 daily EMA as well as the Lead in trend line acting as support. A first quick move has us consolidating at the 100 daily EMA and I think most charters and EMA players can see a clear move to the upside.
The top purple line links the ATH to this high (log chart) and likewise the bottom purple line looks back at long term support. I am still looking at resistance to hold for now and will not be looking to open any positions long above that trend line.
Bottom chart shows the one reason behind my macro bear position as I don't see the circumstances existing for us to move the 1w bollinger bands upward in a meaningful way. We had a very fundamental bounce off the bottom of the BB/100w moving average and this bounce is about to top. I expect a bearish continuation pattern to develop on the 100w. I'll be shorting above the BB.
BTCUSD has found support on both the 200 daily EMA as well as the Lead in trend line acting as support. A first quick move has us consolidating at the 100 daily EMA and I think most charters and EMA players can see a clear move to the upside.
The top purple line links the ATH to this high (log chart) and likewise the bottom purple line looks back at long term support. I am still looking at resistance to hold for now and will not be looking to open any positions long above that trend line.
Bottom chart shows the one reason behind my macro bear position as I don't see the circumstances existing for us to move the 1w bollinger bands upward in a meaningful way. We had a very fundamental bounce off the bottom of the BB/100w moving average and this bounce is about to top. I expect a bearish continuation pattern to develop on the 100w. I'll be shorting above the BB.
And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?
~Nathan Explosion
~Nathan Explosion
