Bitcoin made a 1k candle in one hour!!!!
a huge volume came in a very short amount of time!
if you trade the confirmation such flash candle is not possible to get involved with!
so, what should we do?
-now BTC moves around a very important historical level (the red extended line) it was a nice consolidation area on the bull run.
-Frankly, such pump came suddenly before a very important date ( daily, weekly, monthly and Quarterly close ) made me think that the intention is bad and it's just a trick and the bull market didn't start yet.
-we can see obviously in 2014 that a pump happened in the marked candle in the chart and I think it's the same scenario.
the weekly candle will make a long wick and will not close above the red line. and that means we have an obvious rejection from this level.
also, we can remember the pump which happened at the 6300 level on 15 Oct 2018. so, it's not the first time.
. then we should see a calm week after the current week then we will see the last dump journey to 1.618 level.
after a massive pump like that should I buy bitcoin?[
I trade confirmations, classical technical analysis, and low-risk setups!
so what do you think? should you gamble with your money or wait for the confirmation. lose profit or lose capital?
that was a simple weekly frame view and I will try to make another one but on the daily frame.
good luck!
a huge volume came in a very short amount of time!
if you trade the confirmation such flash candle is not possible to get involved with!
so, what should we do?
-now BTC moves around a very important historical level (the red extended line) it was a nice consolidation area on the bull run.
-Frankly, such pump came suddenly before a very important date ( daily, weekly, monthly and Quarterly close ) made me think that the intention is bad and it's just a trick and the bull market didn't start yet.
-we can see obviously in 2014 that a pump happened in the marked candle in the chart and I think it's the same scenario.
the weekly candle will make a long wick and will not close above the red line. and that means we have an obvious rejection from this level.
also, we can remember the pump which happened at the 6300 level on 15 Oct 2018. so, it's not the first time.
. then we should see a calm week after the current week then we will see the last dump journey to 1.618 level.
after a massive pump like that should I buy bitcoin?[
I trade confirmations, classical technical analysis, and low-risk setups!
so what do you think? should you gamble with your money or wait for the confirmation. lose profit or lose capital?
that was a simple weekly frame view and I will try to make another one but on the daily frame.
good luck!
Comment:
5000 is an important resistance, breaking that one means 5900-6000 level achievable there is not much resistance in between or we will test the broken red box.
Trade closed: target reached: