BTC - pre-Asian session update: EXTREME VOLATILITY 24-48hrs
Traders, these patterns that are setting up are tell tale signs of EXTREME volatility ahead of us. I'm talking bart candle city.
There are numerous accumulation and distribution type setups, all falling one within another one. And whenever this type of complex pattern appears, it always takes price for a joyride.
Notice that dark blue descending channel... That's what all of it will be about. (BTC go figure)...
I've also updated the possible short targets. I am more in favor of a double top on the next swing high after the next swing low. We could even break slightly above that in the swing afterwards to break into the 11800 price range before the crash down.
Make your trading plans around the swings guys. It will happen pretty fast.
My thoughts now are that the next swing low is what will happen overnight. By morning US time we will either already be at the 11200 price range or just about headed there.
I'm planning on shorting this next swing low from around 11520 to 11280, right near the 1.272 fib swing extension. The rest we will see and adjust if need be tomorrow. But for tonight I am 99% sure about the short from 11520 (check your exchange since they all have different price points) to 11280, we may even get to 11200 proper. I just want to lock in sure profit.
There are numerous accumulation and distribution type setups, all falling one within another one. And whenever this type of complex pattern appears, it always takes price for a joyride.
Notice that dark blue descending channel... That's what all of it will be about. (BTC go figure)...
I've also updated the possible short targets. I am more in favor of a double top on the next swing high after the next swing low. We could even break slightly above that in the swing afterwards to break into the 11800 price range before the crash down.
Make your trading plans around the swings guys. It will happen pretty fast.
My thoughts now are that the next swing low is what will happen overnight. By morning US time we will either already be at the 11200 price range or just about headed there.
I'm planning on shorting this next swing low from around 11520 to 11280, right near the 1.272 fib swing extension. The rest we will see and adjust if need be tomorrow. But for tonight I am 99% sure about the short from 11520 (check your exchange since they all have different price points) to 11280, we may even get to 11200 proper. I just want to lock in sure profit.
Updated this in a new idea