Trade what you see, Bearish or Bullish? You tell me
Good day fellow traders.
I hardly post these days. But for the purpose of sharing some views.
You could say Logic> retrace vs what does the structure tell you. Let me be clear always be bearish aka sensible. Before you make a decision!!!!!
I expected a correction of larger size in the last week. So what is happening
We are currently in what seems to be a 5ft wave within a larger structure. Which to be clear, atm looks quite bullish. Does that mean we go up? Not necessarily. The probability is more favorable atm. The battle is still waging.
Most anticipate the 50.7K level to be of large interest. This makes sense for the psychological part of trading and coincides with some levels off course.
Looking at the indicators at our availability. Volume has been fairly controlled from the move of 30k to current. So imagine what happens if volumes decrease, will we fall, most likely. Will it be as hard as most people are stating. Not so sure. When we look at the last corrections these were all very controlled and with a lot of strength (we lacked the large volume as stated from start bull). But also the large selling from the correction from 65K. It also states that there are always buyers waiting at every correction to add positions. Renewed interest at support levels.
Now, what will happen if the large volume does return in strength? Easy push thru 50K levels? The MACD is trying to cross bullish, not there yet! But if we get a buy signal at these levels and position of our MACD. Imagine the wave possibilities for the size of the next wave.
The RSI is showing a lot of strength within the recent moves. Again an indicator that is leaning towards strength. Maybe more power than most have thought over the last weeks?
The weekly chart:
What does that tell us? Pinbar? bullish cross MACD? Bullish cross DMI? Started a 3 wave within a larger supercycle? Weekly support 43K resistance 50K > 57K. Favorable TD count. Nice looking Pinbar candle atm. TP on the weekly are the fib extension levels from the start bull run 127-161.
4H chart just for info:
So what is going on? Time will tell. The point is never anticipated what the others tell you. DIY, that's where you will make a long-term investment, swing trade. Day trading is a different story.
Crypto can change very quickly. Do yourself a favor and watch the Daily and Weekly above everything else.
This is not financial advice.
Good luck to you all
Old post to show the levels?
I hardly post these days. But for the purpose of sharing some views.
You could say Logic> retrace vs what does the structure tell you. Let me be clear always be bearish aka sensible. Before you make a decision!!!!!
I expected a correction of larger size in the last week. So what is happening
We are currently in what seems to be a 5ft wave within a larger structure. Which to be clear, atm looks quite bullish. Does that mean we go up? Not necessarily. The probability is more favorable atm. The battle is still waging.
Most anticipate the 50.7K level to be of large interest. This makes sense for the psychological part of trading and coincides with some levels off course.
Looking at the indicators at our availability. Volume has been fairly controlled from the move of 30k to current. So imagine what happens if volumes decrease, will we fall, most likely. Will it be as hard as most people are stating. Not so sure. When we look at the last corrections these were all very controlled and with a lot of strength (we lacked the large volume as stated from start bull). But also the large selling from the correction from 65K. It also states that there are always buyers waiting at every correction to add positions. Renewed interest at support levels.
Now, what will happen if the large volume does return in strength? Easy push thru 50K levels? The MACD is trying to cross bullish, not there yet! But if we get a buy signal at these levels and position of our MACD. Imagine the wave possibilities for the size of the next wave.
The RSI is showing a lot of strength within the recent moves. Again an indicator that is leaning towards strength. Maybe more power than most have thought over the last weeks?
The weekly chart:
What does that tell us? Pinbar? bullish cross MACD? Bullish cross DMI? Started a 3 wave within a larger supercycle? Weekly support 43K resistance 50K > 57K. Favorable TD count. Nice looking Pinbar candle atm. TP on the weekly are the fib extension levels from the start bull run 127-161.
4H chart just for info:
So what is going on? Time will tell. The point is never anticipated what the others tell you. DIY, that's where you will make a long-term investment, swing trade. Day trading is a different story.
Crypto can change very quickly. Do yourself a favor and watch the Daily and Weekly above everything else.
This is not financial advice.
Good luck to you all
Old post to show the levels?
Comment:
Here is the waves I was looking and sort of speaking of for the bullish scenario
Comment:
Fibbo Levels and what they can tell us.
Comment:
Some of the bearish Signs
Comment:
Waking up to a greener candle. As stated in this post the signs were more bullish than bearish. So probability favored up instead of down. That doesn't mean we go to the moon. I am simply trying to inturped and translate the signals for myself
Comment:
The daily outlook is still bears 60/40 bulls. Decisive break of resistance and bulls will try again. Rejection will signal the bears for another try
Comment:
To be clear we need a strong break of the previous high to break short-term bearish momentum
Comment:
Goodmorning,
Bears are still in control. Momentum is still on their side. It is trying to establish something at the current level. Stronger support at the larger channel trend. Further downside as mentioned before at 43K weekly support
Bears are still in control. Momentum is still on their side. It is trying to establish something at the current level. Stronger support at the larger channel trend. Further downside as mentioned before at 43K weekly support
Comment:
Comment:
The bulls managed to establish something, not there yet do. After we touched the red box. Need a decisive break of downward pressure of the indicated line. Nonetheless, bulls are slowly rotating it back in their favor.