XBTUSD - Small correction to 13600-13800 then move above.

Tomorrow is going to be an interesting day - two likely trades here, the first bounce is lower in probability but will work for a quick scalp, and the second bounce is extremely likely.

Fundamentals point to BTC accumulation below 14000 levels while sentiment on Twitter + Coinbase implementing Segwit + lower TX (network) fees are helping BTC accumulate. These factors point to the lack of a confident move below 14k, hence supporting this chart. The chart does not have fibs, which I'm reserving for my next chart.

Kind sir here :

pointed out that this looks like a Wyckoff accumulation, and I'm glad to say that the rest of traditional TA agrees.

A move to 8000 was always unlikely in my mind, and is ruled out unless we attempt 12600 again. Some FUD could take us there but consolidation over the last two days suggests that this is the support level/accumulation zone/bottom now.

P.s. I trade live and chat exclusively at OneX Capital, which is a beautiful community that combines 90% shitposting with 10% extremely reliable TA : discord.gg/QAbUzM

Comment:

Shorted 14156 but my trailing stop was too tight and automatically closed at 140 due to volatility. 1% profit, waiting for the bottom bounce in about one day.

Trade active:

Longed 13541, with more buys scaled in below. My buys were too low, tried to catch the wick but only the primary buy came through.

SL 12950

Comment:

Current chart shows the bounce happened EXACTLY where the red arrow (predicted trendline) ended :

Trade active:

Adding to long

Comment:

Stopped myself out, RIP.