Please support this idea with your likes and comments and subscribe to my profile to be alerted about new ideas;) Thank you!
In previous idea on thursday I have predicted Bitcoin to move sideways during weekend and then go up. This idea is just an update, I dont have to add really much, price was moving sideway/consolidating as was predicted, formed a reversal triangle and break it now. Triangle targets are 10100 and 10300 zones.
Yes price was moving as I predicted and is going up now, but actually I wanted to see a day longer consolidation because after 1k drop accumulation should take more time. Also if price goes up too much on monday CME will open with big gap which is not good for bull trend. Also weekend moves are usually low volume so this move up is not as good and confident as it could be if it starts after weekend.
But anyway accumulation was going for more than 3 days, my soft has shown that marketmaker/whales were buying all those shorts who were scared after last drop and they are going to push price up. Doesnt really matter what TA says, its crypto, matters how marketmaker/whales are going to manipulate price. Im seeing it in my soft and thats why I created this idea and previous one on thursday.
Conclusion: we have all reasons to open long here, but we should lower risks because move up has started too early
I will post new updates of this idea if anything important happens.
What are your thoughts on it? Lets discuss in comments!
Comment
⋅
There were few attempts to break 10k but all failed. We got some little profit twice from those moves up and our positions were already closed before the squeeze to 9600.
Thats trading, market condtion changes and our work is to react on those changes in time, profit is profit anyway.
I still think price will go up after the squeeze of longs, but now its better to post new analysis. I will do it a bit later
By the way all our trading position are available publicly in the place that is mentioned in my signature. So eveyone can check that we did profit and dump didnt hurt us.