krishisdead
Short

IM BACK >=D BTC PREPARING FOR THE NEXT MOVE

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bearish:
  • Volatility decreasing
  • Volume decreasing
  • Daily Stoch RSI @ 100
  • Red monthly candle (but it has not closed)
  • At the upper 12H BB
  • This looks like Wave B of a corrective ABC wave (please correct me if I am wrong, I am a noob with EW!)

Bullish:
  • Green weekly close
  • Shorts closing, longs opening

Signs of big move:
  • Very tight 12H candles
  • Approaching equilibrium of shorts/longs
  • Confluence of major daily MAs

Overall:
  • If we enter a position, we are gambling. Looking to play the breakout/breakdown OR hedging heavily with a decent stop.
  • ST long entry: 6900 with a target around 7170/7200
  • ST short entry: 6550 with a target around 6200/6150
  • LT: leaning short

Daily analysis:

Previous analysis (click to open chart and view outcome):
*edited red line

Comment: What did I say? ;)
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Comment: Sorry for the late update!
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