BTCUSD / Price action 30m-1h (6000-6200) no bounce?
Typically we see up to 50-60% retracement bounce.
Whats going on here?
No bounce at all?
Look at these wicks on 30m chart.
Obviously we see some downward rejection on the dump.
Thats normal.
However the very next few wicks are showing price rejection on the bounce up?! And it literally bounced like a brick??? (eg: no bounce...)
Looking at this I would say we are headed for 5800 pretty quick.
I dont currently see an exit + re-entry opportunity for shorts.
Keep them on for now......
If we dont see above 6300 over the next 12-24h there is no point exiting....
If we do see at least 1-2 candle closes on 30m-1h chart above 6300 then look for a sub-6200 short exit and re-enter 6300+
Ideal 150-200$ profit from exit/re-entry, with de-risking potential upward (unlikely!!!!)
What do you guys think?
Whats going on here?
No bounce at all?
Look at these wicks on 30m chart.
Obviously we see some downward rejection on the dump.
Thats normal.
However the very next few wicks are showing price rejection on the bounce up?! And it literally bounced like a brick??? (eg: no bounce...)
Looking at this I would say we are headed for 5800 pretty quick.
I dont currently see an exit + re-entry opportunity for shorts.
Keep them on for now......
If we dont see above 6300 over the next 12-24h there is no point exiting....
If we do see at least 1-2 candle closes on 30m-1h chart above 6300 then look for a sub-6200 short exit and re-enter 6300+
Ideal 150-200$ profit from exit/re-entry, with de-risking potential upward (unlikely!!!!)
What do you guys think?
Trade closed: target reached:
suggestion for close: 5780
last 6 wicks on 30m chart that went down to this level over the past ~2 weeks hit slightly below that mark.
if you want to lock in profits at 5800 level it should get you pretty close to bottom
i will exit 5770 with 50% of my shorts, and hope that 5800 bounces for re-entry.
dont get too greedy folks.
we're gaining big now. lock in some profits.
last 6 wicks on 30m chart that went down to this level over the past ~2 weeks hit slightly below that mark.
if you want to lock in profits at 5800 level it should get you pretty close to bottom
i will exit 5770 with 50% of my shorts, and hope that 5800 bounces for re-entry.
dont get too greedy folks.
we're gaining big now. lock in some profits.
Comment:
EXCELLENT short opportunity 6300-6350 zone hopefully coming up soon.
i was worried that it might not even bounce back this high but this looks a bit healthier.
i was worried that it might not even bounce back this high but this looks a bit healthier.
Comment:
btw - 0.618 fib retracement puts us at 6412
so 6500 stop loss should be safe from getting wicked. on any potential up move.
so 6500 stop loss should be safe from getting wicked. on any potential up move.
geez not even a bounce......wtf.......this is scary.......
(I'm actually bullish on crypto. I dont like seeing it drop. I'm also a miner....)