a couple of days ago I talked about the Parabola and how it remains unbroken and the strong support in this region.
Now I am going to show you another pattern...(which also holds the SUPER DUPER STRONG SUPPORT) I like to call this pattern THE COMPLETE MIND F%$@ PATTERN !!! and why this is very very likely...
Right now it as if we are off the coast and we are watching the whales at play, they jump up, then quickly take you under, and then straight back up for air again... Did you survive? Well if you did, this is what we might be about to see.... WEEKS AND WEEKS OF SIDEWAYS FOREVER AND EVER... what better way to create liquidity to move higher, then to take the pattern, up, then down then up then down... RINSE REPEAT... 10 times.... arrr I'm exhausted just thinking about it... It is not a confirmed pattern, BUT it is right now possible, and it holds all the regions needed to continue higher, including the PARABOLA.
I'm going to add this again from my previous chart...
Short term, we are going to see some sideways movement on BITCOIN with little to no direction, we have a trading range short term of $9,000 to $11,000. We have a high liquidity area in which we are going to see the whales at play, long wicks to either direction taking out STOP losses and creating liquidity for the whales and Market Makers to push BTC higher. This is short term pain for the smaller traders, and if you can hold on and not over margin or sit in spot, I believe you will see the long term gains. This will also cause mass confusion to the direction, which for a whale or market maker is the aim of the game and the easiest way to take you money when you over trade positions. Over trading is serious issue in regions like we are now and will be where many smaller traders will lose the majority of their capital.
If you are unsure of direction or feel you are over trading I have a moto. IF IN DOUBT SIT OUT! There is no shame in not being in a trade. Stick to your game plan, wait for a set up to be confirmed, and ONLY take a trade if it all aligns.
So please I welcome your comments and CONSTRUCTIVE FEEDBACK - ALL HATERS WILL BE FLAGGED AND REPORTED!
And remember, there is NO RIGHT OR WRONG in trading - just money management!
REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION
(minimize your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!!
The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons...
PS make sure you give me a like, that way you get updates as I post them.... :) <3
(I don't think it drops that low between you and me )
Daily MACD is bullish
I would like to see a possible retest to see we have support on the previous resistance here then take off again with the rocket
Not out of the woods just yet... So close though
This is IMO a 4th wave:)
Still on track - orange line is a long term resistance turned support