BTC sellers are tired (multiple breaches & pull backs) as the down trend is transitioning to a range (pink box). Now mid-day on 01/11/2018:
- 50-100-200 MA are parallel on the 4HR since the dead cross on 01/06/2018
- no more lower HIs & LOs and we have an average volume (+- 25M).
- 4HR RSI oversold and 1HR is at 50
- MACD at the lower end and on the increase.
- Anticipating a V-formation (bottom) on the 1HR by the end of the day - indicating reversal.
Sold at 15675 and bought back at 14150 with stop loss at 13750.
Going LONG... good luck
- 50-100-200 MA are parallel on the 4HR since the dead cross on 01/06/2018
- no more lower HIs & LOs and we have an average volume (+- 25M).
- 4HR RSI oversold and 1HR is at 50
- MACD at the lower end and on the increase.
- Anticipating a V-formation (bottom) on the 1HR by the end of the day - indicating reversal.
Sold at 15675 and bought back at 14150 with stop loss at 13750.
Going LONG... good luck
Comment:
We are still playing in my pink box, will update chart to anticipate when and how high the break out upward will be. Cheers
Trade active:
Buying more BTC @ 12987.56 - however it may spike down to below $12K as the week is closing - so I have a setup a stop buy order to but at $11,111.11 and will take anything up to $12987.56
Comment:
Weekend dump coming up, then back to range (pink box0. I expect price to peak down as low as below $12K, but make sure you are in BTC by Sunday night GMT. Good luck.
Comment:
400 BTC Sell wall on GDAX... Welcome to the weekend
Comment:
Wow - seeing many probes on the hourly and we are still under seller's conditions halfway through this weekend. Volume is decreasing went from 18M to 8.7M within 24 hrs on GDAX. Last I saw that, we had a pull back of almost 50% and big guys were buying. If we hit volume under 7M and we head down under $13.5K - I expect a break out downward as low as $8K. I may have to reset my entries at $11.1K, which we might well hit Sunday morning. I think we are going to need a bigger pink box.
Trade closed: target reached:
Bought at $11.3K and sold at $12.1K - now closing this trade with new lower position, which I will post today. Maybe this is the long awaited retracement: if it retraces more than 60% for at least another week - well that bubble we were fearing has burst. Volume is going up and heavy hands are being shaken which are about 40% of current holders. We are still in selling territory so strap on for more lows.