I'm calling the bottom here, after all the liquidation that followed the failure of my last 3-day timeframe signal, as price moved back below the stop loss @ 10986, the selling accelerated until it reached the climax an hour ago.
It's likely that the drop was caused by the Plkus Token scammers, as I was discussing with a client of mine. They are chinese and most likely sold BTC and other coins for USDT to sell the coins for cash in Russia.
I'm long from 9700, added some margin here.
Best of luck,
Ivan Labrie.
It's likely that the drop was caused by the Plkus Token scammers, as I was discussing with a client of mine. They are chinese and most likely sold BTC and other coins for USDT to sell the coins for cash in Russia.
I'm long from 9700, added some margin here.
Best of luck,
Ivan Labrie.
Comment:
The drop to support followed by a rebound is a good thing. Sentiment peaked, negatively speaking. I'm rather sure we saw the bottom. Holding longs.
Comment:
IF the market moves, now is the time...target is 11397 within 11 days.
This will trigger a weekly advance if it hits target, see yellow box upper border for the price and time target.
Comment:
Comment:
Weekly is now oversold, and daily seems to be exhausted, as far as selling goes.
This could be the bottom, after trapping technical traders who went short because of the 'triangle'.
This could be the bottom, after trapping technical traders who went short because of the 'triangle'.
Comment:
I went short and hedged my position today, a bit higher, locking in small profits from spot buys at lower levels.
Since bullish events didn't increase demand the market is likely to break down here, target is 6833 unless we go back above 10305, for the next 10 weeks or so. See red box...We may bottom a bit higher or lower, but overall negative developments for price. Lower prices might bring in new institutional investors and retail traders who might remain on the sidelines.
Since bullish events didn't increase demand the market is likely to break down here, target is 6833 unless we go back above 10305, for the next 10 weeks or so. See red box...We may bottom a bit higher or lower, but overall negative developments for price. Lower prices might bring in new institutional investors and retail traders who might remain on the sidelines.
Comment:
The failure of recent bullish signals gradually confirmed this was a triangle, but now finally triggered a bearish weekly signal. Keep in mind there's a long term 16 month uptrend signal active unless we go back to the 6400 zone.
If we do, we would have to bounce strongly from that level to confirm a new trend signal. And it would probably be a great long term buying opportunity then.
If we do, we would have to bounce strongly from that level to confirm a new trend signal. And it would probably be a great long term buying opportunity then.
Comment:
The flipside is remaining sideways until enough accumulation takes place, at higher levels, around 9900. I doubt this scenario for now, given the bearish action as of late. Only possible bullish catalysts didn't help price go up, which is a bad thing usually.
