Every rally has retracement like everything what goes up has to fall down ;) be patient and ready for the next chance, dont jump longing blindly into this fast train, cant go up forever.
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I forget to mention this beautiful hidden bearish div. For me enough data to make right decision :)
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On the right track ;)
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Again BTC going up without volume and OBV indicator is down.. WTF? TRAAAAAP!
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BTC is doing what I want
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Yellow support on 3700$ looks strong maybe we will se one more bounce to 6900$
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One more push was really weak to 3830$ area, now I am expecting move down, we already touched 3 times support at 3700$ and I dont think that this will hold anymore
Trade closed: target reached
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And we are here :) Perfect head and shoulder pattern created, now its 50/50..up or down?
It's getting progressively more and more risky to short BTC at these levels. Big volume coming into this market lately at levels that BTC has historically started new bull-markets (from the previous bubble-pops).
It could be very soon that it's more logical to long dips than to short upward price movements. I see the market in a "limbo" at the moment, but I understand that this is merely my own opinion.
Kotajo9090
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@JamesBrown, sure but I think that every bottom have to be tested at least once again so if 3100$ was a bottom, we will see confirmation as we saw in 2015 in the same situation sooner or later. We already created 3 gaps on lower time frames so lets see when we fill these gaps
JamesBrown
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@Kotajo9090, you might be right about the double bottom, but they don't always happen and patterns tend not to repeat more than three times (or it would be too easy to play the market).
It could be very soon that it's more logical to long dips than to short upward price movements. I see the market in a "limbo" at the moment, but I understand that this is merely my own opinion.