Very much coinciding with my analysis yesterday; I am expecting a move up to the 9.7k region to complete wave B of this larger ABC correction which is long-overdue. Unfortunately, Bitcoin took another leg-down prior to its movement up to the mid 9k region. However, this only further certifies we are due a relief pump up to the 9.7k region. I have highlighted areas in which I am looking to enter into shorts. The process I typically follow is laddering, in which I set multiple asks (shorts) every 10$. This provides me with enough confidence I will obtain a good entry price.
There was lots of selling pressure being absorbed (red bubbles) in which we can now assume sellers are exhausted. Furthermore, scanning the on-chain data, miners are not capitulating yet, and therefore holding their Bitcoins to sell at a later date.
I wouldn't be surprised if we saw something along the lines of this on the 1D timeframe.
Here is my chart from yesterday:
I am still with the expectation in the mid-term we are due to see a larger wave down to the bottom of this pennant, to complete wave E. It is therefore imperative if you are a mid-term trader, to capture shorts within this region, if it is indeed the top.
I hope this helps, if you like what you see, you know what to do... 😎
@monetae_anon, he just spammed you, he commented 30 seconds after you publish.
monetae_anon
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@TWIMARKETCAP, You've gotta do what you've gotta do. Trust me, there are a lot more 'worse' offenders then him.
TWIMARKETCAP
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@monetae_anon, true, but sometimes is just ridiculous, they don't even pretend.
trytofeelpositive
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@monetae_anon, ty for opinion mate about my idea.
@TWIMARKETCAP yes for some peoples like u, i "spammed" but everything is simple,i try to grow my acc,no more,thanks for understanding
TWIMARKETCAP
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@trytofeelpositive, @monetae_anon, that is the main reason for spamming, to grow the account. Try to be more participant and involved with the publisher, people with notice and you will get more traction, not a spammer reputation desperate for followers.
trytofeelpositive
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@TWIMARKETCAP, lol, I share my ideas with other guys, if my ideas were bullshit nobody would hit the like and dont subscribe, think about it
trytofeelpositive
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@TWIMARKETCAP, I look at your old ideas and don’t see anything interesting in them, you have 29 ideas and 9 subscribers, so let’s dont teach me what to do;)
@monetae_anon now rly sorry for spam under your idea
raysofsunshine
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hi im new to bitcoin and trading. so by the analysis the breaking point is either 9200s? or 9700s?
i have something similiar,with same targets