Hey traders,
Since I don't use fancy indicators or draw big shapes on my screen, its a little harder for amateur traders to understand my charting. I understand that and that's why I encourage all interested in my charts to please read the description to fully understand it. I give you the whole low-down on the market.
My last chart on Bitcoin a few of you commented on the 'big dildo' candles I was talking about, and it turns out I was right. Bitcoin bottomed right under that 7500 weekly (purple) then in the span of 16 hours went up 36%. A parabolic rise like that, especially in that short amount of time is what I call a 'dildo' candle. The exact opposite, seen last month on the 26th is what I'd call Satan's dildo.
Okaayy, done talking about that candle haha. Now it looks like Bitcoin 1st wicked the monthly level at 9950, which as usual I expected a 1st touch rejection. From that Bitcoin has sort of hugged the top of the downtrend until it started going parabolic earlier this morning.
This is the last 4H candle until the new weekly candle forms, and the new monthly forms on Friday. This is huge, because if you understand fractals, new weekly and monthly candles are the biggest things in trading. It's almost like a nice swiss watch.. ex. Bitcoin's monthly and weekly candles are the core of the watch, while the 1H, 4H, etc. are the inter-workings of the watch.
I personally don't think we're going to get another parabolic move until next week a few days after the new monthly candle forms. This week I expect to be accumulation and even touch the top of the downtrend again. However, I have no control over the market so it could wick 9950 monthly then come back down or even chill out just under 9950.
All I am saying is I wouldn't be actively trying to short Bitcoin right now, even though I know it could go down and retouch the downtrend at around 9000.. Just don't be that guy that tries to call a $1000 Bitcoin bottom and get cooked while the price skyrockets to 16-17,000.
Very very interesting upcoming moves by Bitcoin and the rest of the crypto market, I'm beyond excited to see how this move plays out. This upcoming week possible accumulation, then moon on the 1st monday of november.
As always please do your own research, I am not a financial advisor.
If you'd like to stay up-to-date on the current happenings of the market please join our new Telegram: t.me/easylootsignals
If you'd like to discuss the market with fellow traders please join: t.me/easylootgroup
(just created that last group ten minutes ago)
Since I don't use fancy indicators or draw big shapes on my screen, its a little harder for amateur traders to understand my charting. I understand that and that's why I encourage all interested in my charts to please read the description to fully understand it. I give you the whole low-down on the market.
My last chart on Bitcoin a few of you commented on the 'big dildo' candles I was talking about, and it turns out I was right. Bitcoin bottomed right under that 7500 weekly (purple) then in the span of 16 hours went up 36%. A parabolic rise like that, especially in that short amount of time is what I call a 'dildo' candle. The exact opposite, seen last month on the 26th is what I'd call Satan's dildo.
Okaayy, done talking about that candle haha. Now it looks like Bitcoin 1st wicked the monthly level at 9950, which as usual I expected a 1st touch rejection. From that Bitcoin has sort of hugged the top of the downtrend until it started going parabolic earlier this morning.
This is the last 4H candle until the new weekly candle forms, and the new monthly forms on Friday. This is huge, because if you understand fractals, new weekly and monthly candles are the biggest things in trading. It's almost like a nice swiss watch.. ex. Bitcoin's monthly and weekly candles are the core of the watch, while the 1H, 4H, etc. are the inter-workings of the watch.
I personally don't think we're going to get another parabolic move until next week a few days after the new monthly candle forms. This week I expect to be accumulation and even touch the top of the downtrend again. However, I have no control over the market so it could wick 9950 monthly then come back down or even chill out just under 9950.
All I am saying is I wouldn't be actively trying to short Bitcoin right now, even though I know it could go down and retouch the downtrend at around 9000.. Just don't be that guy that tries to call a $1000 Bitcoin bottom and get cooked while the price skyrockets to 16-17,000.
Very very interesting upcoming moves by Bitcoin and the rest of the crypto market, I'm beyond excited to see how this move plays out. This upcoming week possible accumulation, then moon on the 1st monday of november.
As always please do your own research, I am not a financial advisor.
If you'd like to stay up-to-date on the current happenings of the market please join our new Telegram: t.me/easylootsignals
If you'd like to discuss the market with fellow traders please join: t.me/easylootgroup
(just created that last group ten minutes ago)
