Good day guys! If you entered into this sell position on my previous post this week, you are up over 4200 pips and counting. If you look on this weekly chart, price action clearly has a lot of downside. The support could be at the previous 2017 reisistance. I mentioned how on the smaller time frames price is ranging in a rising wedge pattern. With so much euphoria around Bitcoin, everyone's goal is to buy the dip. The problem is what if the price keeps dipping. Listening to people like this is problematic, because they are not really traders. They are speculators. People only are winning, because of the fed. People think if you buy when it goes down, then they will get lucky and it will go up.I mentioned in my previous post how there is a massive head and shoulder pattern forming. I am a price action top down analysis trader who understands economics. In simple terms, I am a macro trader. I always use the bigger picture to guide me and zoom down on smaller time frames for imperfect entries. Humprey Neil once said, "Don't confused brains with a bull market." We do appreciate you for checking out our post and remember, we will see you on the other side.
Rodrick (CEO)
Third Eye Traders
Rodrick (CEO)
Third Eye Traders
Comment:
We are up over 7300+ Pips