Hello friends,
Here's an idea you may or may not agree, nevertheless, it's just a possibility. Every wise trader looks at every possible scenario possible when diving into any market.
So here's just one potential scenario...
It appears that we are in an accumulation phase preparing for the jump to the next level of about $11,650-ish.
The parabolic curve does seem to have peaked yet, the terminal and "almost vertical angle" of any parabolic curve has not shown it's face yet.
The sizes of rectangular green translucent boxes (accumulation phases) are getting shorter and shorter as the curve gets steeper and steeper.
The golden retracement level for this scenario is at $6,380-ish, at the 0.618 Fib ret level.
The great big retracement everyone is expecting will soon come to fruition, but no one knows when.
It appears that Bitcoin is currently in an accumulation phase at the $7,500.
If the market structure will not be broken at $7,250 then the upward trend will continue.
If Bitcoin price dips and has a daily candle close below $7,250, the trend has shifted to the downside, and the retracement may begin to play out at that time. But until then, the up trend is still in place.
This scenario may or may not play out. But if it does, will you be on this Bitcoin Rocket Ship as it launches to the next price level or will you be left behind and just be watching on the sidelines. What to do? What to do?
*** Place your stops at the appropriate levels.
Happy Trading Everyone.
Here's an idea you may or may not agree, nevertheless, it's just a possibility. Every wise trader looks at every possible scenario possible when diving into any market.
So here's just one potential scenario...
It appears that we are in an accumulation phase preparing for the jump to the next level of about $11,650-ish.
The parabolic curve does seem to have peaked yet, the terminal and "almost vertical angle" of any parabolic curve has not shown it's face yet.
The sizes of rectangular green translucent boxes (accumulation phases) are getting shorter and shorter as the curve gets steeper and steeper.
The golden retracement level for this scenario is at $6,380-ish, at the 0.618 Fib ret level.
The great big retracement everyone is expecting will soon come to fruition, but no one knows when.
It appears that Bitcoin is currently in an accumulation phase at the $7,500.
If the market structure will not be broken at $7,250 then the upward trend will continue.
If Bitcoin price dips and has a daily candle close below $7,250, the trend has shifted to the downside, and the retracement may begin to play out at that time. But until then, the up trend is still in place.
This scenario may or may not play out. But if it does, will you be on this Bitcoin Rocket Ship as it launches to the next price level or will you be left behind and just be watching on the sidelines. What to do? What to do?
*** Place your stops at the appropriate levels.
Happy Trading Everyone.