TRADERS BE WARNED: The chop has begun and will continue until at least February 1st. The price is unlikely to break below 8000. This is not a zone in which to enter swing trades.This is a zone only for QUICK LOWER T.F (1-5MIN) SCALP TRADES. The only short trades that are relatively safe are the ones that have already been entered above 8458. Whenever the price is in between the blue 1/1 and red 2/1, it begins to move slower per unit of time than it was moving in the previous zone. This zone is notorious for chopping people and taking their BTC
. Until the price breaks below 8000, there is no need for bearishness. Until then, just understand that the bulls are hiding and taking a breather on their private jets while their algos chop you out of your btc
. This is, however, a good zone to scalp - but only if you know what you are doing.
until 8000 breaks as support. In and out lower t.f scalp trades only. This is now the riskiest time to enter and hold trades. If 8000 doesn't break as support by February 1st, the bulls will be back and rested and ready to murder the ignorant bears. The smart bears are hibernating right now. The stupid bears are opening and holding trades in this zone.
I would also like to remind you of my fractal
play idea, which is still playing out relatively well (linked below).