Hello, friends!quick update on BTC price movement😉
I hope each of You have read my last post about the boringness of trading!If not, please, read it👇
There is no point in closing a position, when you see a candle of the wrong color you expect!😆
Patience and a clear understanding of your actions all you need!
You see the entry point. You entered. Calculated SL. Placed take profit. You're waiting.
That's all! Nothing else is needed. No panic, no excitement!
Do you know how I understand, that the market is going in the wrong direction? - No, not about checking the market, but by the number of messengers come to me !!! 😆
As soon as my phone goes crazy, I already know, that the price has moved in the opposite direction !!! 🤣
I don't see these peaks as "fake outs", they are totally valid to me, within the down channel if you place channel top on them. We had 2 touches down, 1 touch up. I'm personally waiting BTC to finish the zigzag, here's what I'm preparing for: 37.5k if it falls tonight and finishes in 1-2 days, 34.8k if it takes 2-3 more days to slowly touch channel top, and arrives down only between 6-12th October. 8h+ timeframes all show to me that the correction is unfinished, and it's hard to find barely any data point that would suggest a move up, breaking the channel.
Also: where is the volume hiding? Shouldn't we see a higher volume at bottoming than after the 52k->44k fall?
RocketBomb
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@antonio-schmidt, you express your thoughts correctly. I agree, correction is not over.
One senses, that you’re trying to teach me or reproach me.
I will assume, that it’s fault my not perfect English. Have a good time
antonio-schmidt
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@RocketBomb, I meant no offense at all, actually I come to your posts often and I usually find confirmation to my thoughts plus you have great memes :) Both is very relaxing to have :D Just wanted to point out, if we look at the down-trend since 07 Sept as a broader parallel channel downside, even another push to the upside would fit the same theory, only delay it a week or so. I did it because you have drawn a wedge, which allows a slimmer area downwards than my approach. Btw it seems that yours is more accurate this time as well, it's more and more likely that we will not touch my channel's top again ;) Cheers!
I see hidden bearish divergence on the 12 and 6 hour on the RSI and MACD supporting your prediction. Smaller timeframes don't seem to show the divergence..I am new to trading, but I believe larger timeframes are more powerful and heiken ashi are still acceptable for determining divergence. Please correct me if I am wrong. Thank you - slava Rocketbomb
Also: where is the volume hiding? Shouldn't we see a higher volume at bottoming than after the 52k->44k fall?