👍 I will look to accumulate Bitcoin when it finds a bottom!
Head and Shoulders Reversal occurred at the Up Thrust After Distribution...
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🚨 This is why I don't short Bitcoin!!! 🚨
💡 Possible testing of Supply Zone at $7,400-ish?
Are sellers exhausted? 😫 Or is there more supply to unload? 🤝
Price making either making... Higher Highs ☝️☝️☝️ = Bullish 🐂 Lower Highs 👇👇👇 = Bearish 🐻 This will give us clues at what the whales are plotting... 🐳
💚 A break above $8,150 and I will have to flip bullish! 💚
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The Cheat Code at Supply Zone: Uptrend = HH + HL Downtrend = LH + LL
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Wyckoff Distribution Fractal on 15 Min TF 🚨 Threat is to the downside... ...but last minute day trade flip 💡 Risk to reward 1:2
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Short term trade posted above... expires in 2 hours. If your Stop Loss doesn't get hit... I'd take profits to be safe. Heavy resistance ahead.
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Stop Loss on quick, day trade flip, Long Position moved to break even at $7,320-ish
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Oh well, got stopped out at break even on my Long position. Looks like supply still overwhelms demand at the $7,400-ish price, Appears less likely there will be a last-minute Up Thrust Above Distribution (UTAD Test???)
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Volume spike failed to break above overhead resistance.... this is where you would short...
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My thought process is that... if the volume spike was unable to produce a Higher High... then supply is overwhelming demand no matter how many buyers and sellers are active. It's a Sign of Weakness. (⚠️ But please use a Stop Loss in case a whale goes nuts and price pumps.)
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Just posted a new chart: This appears to be a complex bearish correction at the top of a very nice rally up. Everything in life expands and contracts
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🚨 Reminder: Don't try to catch a "falling knife"!!!
How much do you think will land? Do you have an estimated level?
ChartCinema
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@sscoin, I'm hoping it bounces at the 0.618 Retracment = $5,000-ish??? We'll see how Bitcoin's price reacts to that level. in the meantime, this is my macro-view:
sscoin
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@MasterYourMatrix, Hi, Thank you for your comment.
Stay healthy!
VincePrince
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This is currently my view on the BTCUSD, interesting pair
ChartCinema
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@VincePrince, Looking forward to Bitcoin breaking above your strong downtrend of resistance line!!!!
How much do you think will land? Do you have an estimated level?