[ALERT] Possible strong bounce looming. Early notice.
Watch it. High risk trade. Have a stop or await a proper signal.
Comment:
Let me give you a better insight, while awaiting the events.
Below RSI (green) and Stoch RSI (red) on 4H timeframe:
Notice how strongly they're split.
Stoch RSI is completely overbought, whereas RSI rising from oversold.
This is a pretty uncommon and unsustainable scenario.
Either RSI will grind up towards Stoch, driving price up for a bounce, or the opposite.
In the latter case it usually ends with a strong impulsive move down of the price.
We had some notable cases of such strong moves back in november 2018 and march 2020. This is the reason using the stop or waiting a signal for the upcoming trade is mandatory.
Anyway, even in the case of a strong move down i'd carefully look at for a Long opportunity. Because of the picture on D timeframe there's a chance to get a terminal move. Meaning a set of one or more red candles, having long lower wicks, followed by some V recovery.
In such case what i'd like to achieve is basically "cutting" those wicks with a BUY.
Some people call this catching the falling knife and to some extents that's it.
Yet in this case R:R can be rewarding.
Below RSI (green) and Stoch RSI (red) on 4H timeframe:
Notice how strongly they're split.
Stoch RSI is completely overbought, whereas RSI rising from oversold.
This is a pretty uncommon and unsustainable scenario.
Either RSI will grind up towards Stoch, driving price up for a bounce, or the opposite.
In the latter case it usually ends with a strong impulsive move down of the price.
We had some notable cases of such strong moves back in november 2018 and march 2020. This is the reason using the stop or waiting a signal for the upcoming trade is mandatory.
Anyway, even in the case of a strong move down i'd carefully look at for a Long opportunity. Because of the picture on D timeframe there's a chance to get a terminal move. Meaning a set of one or more red candles, having long lower wicks, followed by some V recovery.
In such case what i'd like to achieve is basically "cutting" those wicks with a BUY.
Some people call this catching the falling knife and to some extents that's it.
Yet in this case R:R can be rewarding.
Comment:
Green 12H candle confirmation looks gone already, due to move down below 2022 lows.
I've a bid order just above the 27.500$ mark.
Will evaluate the outcome.
I've a bid order just above the 27.500$ mark.
Will evaluate the outcome.
Trade active:
In flight @27510$
Trade active:
second spot order in, @25720$.
Stoch on 4H still high, will add a further oreder having opportunity.
Stoch on 4H still high, will add a further oreder having opportunity.
Comment:
Big spread across exchanges.
Comment:
Stop set.
Let's se whether it works.
If not then rinse and repeat.
Let's se whether it works.
If not then rinse and repeat.
Comment:
A quick follow-up to the trade.
Here is the same 12H chart posted above.
We have a red candle with a long lower wick. Possibly a hammer, but soon to say.
We did achieve a double cut of its wick.
This was the idea.
Now it's up to market deciding whether it's a good or bad move.
Anyway, stop will cut losses if things go much wrong.
Here is the same 12H chart posted above.
We have a red candle with a long lower wick. Possibly a hammer, but soon to say.
We did achieve a double cut of its wick.
This was the idea.
Now it's up to market deciding whether it's a good or bad move.
Anyway, stop will cut losses if things go much wrong.
Comment:
Comment:
Up 25/28% after our cut-of-the-wick.
Timing was good, after all.
Enjoy, but watch your profit.
Timing was good, after all.
Enjoy, but watch your profit.
Comment:
Watch Alts.
See domination in wedge and TD count 9.
See domination in wedge and TD count 9.
Comment:
12 and counting.
expecting volatility ahead.
expecting volatility ahead.
Comment:
See the volatility:
Fakeout so far, retracing after failing to reach resistance.
Watching closely, seems poised to go down quite a bit UNLESS Bitcoin corrects.
Fakeout so far, retracing after failing to reach resistance.
Watching closely, seems poised to go down quite a bit UNLESS Bitcoin corrects.
Comment:
Stopped in break-even.
Re-entered Long @25,39k.
Re-entered Long @25,39k.
Comment:
bought another lot @23,56k
Comment:
3rd lot already in.
Here comes the crossroad.
Here comes the crossroad.
Comment:
Breakdown.
Further lot bought @19200$.
Last one planned.
Leaving 3 minor bids in the 18,6-17,2k in order to catch further volatility idf needed ( we have support close to 16,6k mark).
That said, i'm done for now.
Will let the dust settle in order to evaluate the outcome.
Further lot bought @19200$.
Last one planned.
Leaving 3 minor bids in the 18,6-17,2k in order to catch further volatility idf needed ( we have support close to 16,6k mark).
That said, i'm done for now.
Will let the dust settle in order to evaluate the outcome.
Comment:
New HTF analysis drafted, let's continue here:
Further swing down not excluded.
Handle with care.