SnarkyPuppy

Possible Short term Bounce from 5970

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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7
Just looking at this patern that has shown up several times on the lower time frames during this consolidation.
Daily chart on the right.
An example of the pattern on the 1hr time frame on the left.
Comment: daily chart is on left..
hourly is on right..
Comment: and the bounce price should be 5790... not 5970
Comment: Target would be somewhere around 6500-6800
Comment: Maybe even back two fractals to the 7500 mark.. wherever the 10/30/50 day moving averages are might be a good lookout point... and i will know this is in play if we get another leg down ending the day near the bottom of the candle. The 3/4 hr time frames may have oscillator divergence at that point too. Shorts cover and boom... you got a lambo candle flash rally.
Trade active: low for the day was just above 5800.. candle closed at the bottom. we have bullish turns on the lower time frame oscillators. .. the next few hours will either give us strong price movement up. or a short consolidation only time will tell
Comment: The actual low was a wick down to 5780. Lets see how bullish this thing can get.
Comment: Well...
Comment: sips over priced coffee... sets trailing stop on another 300% winning trade.
Trade closed: target reached: look to trade the next break out or down.

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