BTC
These patterns are so elastic that they dont really provide strong evidence...
But on the 4 hour chart the downtrend is quite choppy.
It hit the long term median line, then bounced...
Then slumped again to pierce the line again and make a lower low.
These look like fairly typical liquidity games.
Notice that the RSI has been running flat for while.
That is a clue that there could be a bounce in the pipeline.
In the highest time frame, the area above the median line will most likely prove to be the major liquidity landmark or one of them.
But on a much lower time frame such as the 4 hour chart, the next logical shakeout play is to bounce back above the median line, since many traders will be unaware of this and have been scared away 👻.
There is always the risk of course that this is simply a downtrend going over the cliff edge, so bear that in mind.
But in terms of the short term cat & mouse game I suggest that the next move is up.
Many altcoins have taken a battering today and so if you like short term plays or you are averaging in or whatever, then this can be a good moment to do it.
But its not without risk at this point.
Since those magical 2.272 fibs were hit on TOTAL and TOTAL2, every long comes with additional risk at this point.
But coins / stocks can still potentially make higher highs.
Just bear in mind that we may be very close to or already in the mid term correction.
However, also bear in mind, that the most risky time is often the most lucrative in altcoins, and perhaps we will see that reflected in the Bitcoin miners or even Coinbase.
Not advice
These patterns are so elastic that they dont really provide strong evidence...
But on the 4 hour chart the downtrend is quite choppy.
It hit the long term median line, then bounced...
Then slumped again to pierce the line again and make a lower low.
These look like fairly typical liquidity games.
Notice that the RSI has been running flat for while.
That is a clue that there could be a bounce in the pipeline.
In the highest time frame, the area above the median line will most likely prove to be the major liquidity landmark or one of them.
But on a much lower time frame such as the 4 hour chart, the next logical shakeout play is to bounce back above the median line, since many traders will be unaware of this and have been scared away 👻.
There is always the risk of course that this is simply a downtrend going over the cliff edge, so bear that in mind.
But in terms of the short term cat & mouse game I suggest that the next move is up.
Many altcoins have taken a battering today and so if you like short term plays or you are averaging in or whatever, then this can be a good moment to do it.
But its not without risk at this point.
Since those magical 2.272 fibs were hit on TOTAL and TOTAL2, every long comes with additional risk at this point.
But coins / stocks can still potentially make higher highs.
Just bear in mind that we may be very close to or already in the mid term correction.
However, also bear in mind, that the most risky time is often the most lucrative in altcoins, and perhaps we will see that reflected in the Bitcoin miners or even Coinbase.
Not advice
Comment:
Comment:
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Comment:
Big pumps post FOMC across multiple markets. Altcoin dip buys looking GREAT 🚀. 😅.
And Bitcoin bounces...
And Bitcoin bounces...
Comment:
Up 10% in a day 🚀.
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Priority trades, round the clock updates and a 1 hour technical video per week 😼.
Get the "heads up" at critical moments - don't lose your shirt.
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Contact: t.me/dRends35
