Im watching a few things closely on Bitcoin right now.
We are parabolic once again although not super extended we are definitely stretched right now so expecting a snap back sooner or later.
For some time BTC has been pegged to the reaction to the DXY and the only thing i was really watching for was to see BTC break significant levels to start seeing organic buying on the charts to break the PEG to the DXY and i believe the break about 12k was what we needed and we are finally starting to see bitcoin move on its own.
Although parabolic runs can be exciting there normally met with a heavy retrace shortly after so i dont get to excited apart from the fact it presents great trading opportunities for us leverage traders.
Right now im expecting a push over the next few days maybe late sunday to see some volatility enter and hit the 13800 mark.
As i mentioned we are over extended and parabolic so just waiting for us to hit that key level and then expect a heavy retracement.
I will be looking back to the previous consolidation zone as a liquidity pool to reopen long after the sell off somewhere between 11300 and 12000.
Happy hunting yall
We are parabolic once again although not super extended we are definitely stretched right now so expecting a snap back sooner or later.
For some time BTC has been pegged to the reaction to the DXY and the only thing i was really watching for was to see BTC break significant levels to start seeing organic buying on the charts to break the PEG to the DXY and i believe the break about 12k was what we needed and we are finally starting to see bitcoin move on its own.
Although parabolic runs can be exciting there normally met with a heavy retrace shortly after so i dont get to excited apart from the fact it presents great trading opportunities for us leverage traders.
Right now im expecting a push over the next few days maybe late sunday to see some volatility enter and hit the 13800 mark.
As i mentioned we are over extended and parabolic so just waiting for us to hit that key level and then expect a heavy retracement.
I will be looking back to the previous consolidation zone as a liquidity pool to reopen long after the sell off somewhere between 11300 and 12000.
Happy hunting yall
Trade active:
so far so good, reaching that 13800-14000, and the monthly is not far off a super bullish close higher that its ever closed before.
The market still needs a breather though hence waiting for a much larger retracement but wouldn't be surprised to see some more retail momentum first.
The market still needs a breather though hence waiting for a much larger retracement but wouldn't be surprised to see some more retail momentum first.
Trade active:
This one for me is a slow hedge, sitting tight for now in this short on the side, expecting it to take a few months to play out so in no rush, realistically my invalidation is if we move out of this consolidation higher again towards 16k but ill most likely close my position and take another bite.I know trying to catch tops is a dangerous game but the fact is BTC needs a market correction so its coming.
Trade active:
Waiting to see what happens here, still expecting a correction but new money flowing in will destroy TA here and we could see us push to 16k region