The Price has broken to the right of the red 2/1 line, which means that it is BEARISH.
However, the price can go sideways, and move UP to hit stops and liquidate high leverage traders.
LONG TRADES SHOULD NOT BE TAKEN
IF THE PRICE BREAKS ABOVE THE RED 2/1 = STILL BEARISH AND IT WOULD BE BETTER TO WAIT ON THE SIDELINES
SHORT TRADES should be treated as 1 minute scalps / lower t.f scalps until the price breaks below 6900.
7232 IS A HEAVY CHOP ZONE. TRADERS BEWARE.
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Lower T.F move (for 1 minute chart scalp trades):
This is for 1 minute chart scalps:
Today:
Support established at 7413 = long
Support of 7303 broken = short
Today's daily range = 7413-7303 (Chop Zone)
Support established above 7413= potential to climb up to 7900
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Super large Timeframe:
Please take a look at my previous published idea. It is likely that BTC will follow a fractal that I have obtained through use of my unique S/R system. I believe it is likely for BTC to go down to the 6k region, perhaps a double bottom , but more likely a higher low, and then continue upwards to the 9000-9900's. A higher low in the 6k's before a move up to 9k's would be bearish in my opinion.
Why?
Whenever the price falls below the Blue 1/1 of the Gann Fan from the pivot low, it is less bullish . Once it is below the red 2/1 of the Gann Fan , longs are extremely risky.
If the price were to make a higher low in the 6k's, it would be below the blue 1/1 of the current pivot low at 6524ish.
Here is a recap of my previous idea:
"I use a lot of numerology in my technical analysis . I use a unique S/R system, which leads me to believe BTC will dip back down to the 6k region before a potential move up to 9k. If you look at the chart in which I have included the fractal moving up to 9K, compare it to the pattern from May 2018 which I have circled on the left. Ignore the price, but pay attention to the S/R levels crossed. This fractal is currently playing out on the lower TF."
Ace Pro Short Indicator
I have also launched my Ace Pro Short Indicator + Ace Pro Long Indicator (viewable on my Published Scripts page).
Thank you
Ace
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