Hello everyone ✌
I have put together both a High Time Frame ( HTF ) & Low Time Frame (LTF) trading plan. Hopefully to provide information to you all on where you should look to enter into the market for both directions.
Currently Bitcoin is in a zone of consolidation, in which we would typically expect to see a break-out to the north-side. However, it is important to note we are in the wild-west and therefore we need to consider both sides of the equation. Further to this, with the on-going uncertainty in the economy, this further smokescreens the direction. This is why it's imperative we have two plans to take advantage of either directional-swing.
When the range tightens (especially for Bitcoin), the break-outs tend to be very large. Therefore the focus should not be on looking to maximize gains, but to minimize losses. A carefully curate trading plan with little exposure to risk is the answer here.
If we look on a HTF, a break to the downside provides us with an area to look to flip to long, in the demand zone, which could potentially print an inverse head & shoulders, leading to a breakout above the neckline & sub-sequentially the long-term descending resistance.
This can however be skipped if we break out from here. In which we should see a push to ATH levels end of year.
I hope this was some-what useful. Any additional questions, leave me a comment and I'll get back to you :)
Your's sincerely,
Anon.
I have put together both a High Time Frame ( HTF ) & Low Time Frame (LTF) trading plan. Hopefully to provide information to you all on where you should look to enter into the market for both directions.
Currently Bitcoin is in a zone of consolidation, in which we would typically expect to see a break-out to the north-side. However, it is important to note we are in the wild-west and therefore we need to consider both sides of the equation. Further to this, with the on-going uncertainty in the economy, this further smokescreens the direction. This is why it's imperative we have two plans to take advantage of either directional-swing.
When the range tightens (especially for Bitcoin), the break-outs tend to be very large. Therefore the focus should not be on looking to maximize gains, but to minimize losses. A carefully curate trading plan with little exposure to risk is the answer here.
If we look on a HTF, a break to the downside provides us with an area to look to flip to long, in the demand zone, which could potentially print an inverse head & shoulders, leading to a breakout above the neckline & sub-sequentially the long-term descending resistance.
This can however be skipped if we break out from here. In which we should see a push to ATH levels end of year.
I hope this was some-what useful. Any additional questions, leave me a comment and I'll get back to you :)
Your's sincerely,
Anon.
Comment:
Consolidation zone / POC flipped into daily close, looks like we will see some upside.
Comment:
Bitcoin is starting to show signs of weakness. I'm still expecting some element of a push to the range high, and then a drop to the green box to complete wave C.
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Comment:
And there we have it: