BTC - extremely bullish week incoming, 11300 still target
I know this still looks like an awful mess... This is what happens when you have too much time on your hands.
I strongly urge you guys to not play the short swings this next week because they will NOT be profitable. (Unless another BitMEX happens... sigh). I have spotted what's called an "anti-cypher" harmonic pattern in the works, and coincidentally it's fibs are working out perfectly with how I imagined things to go.
I've just been playing around with fib channels a lot and I'm pretty convinced that 11300 is in play by the end of this upcoming week. Just trying to map out all the support and resistance channel fib zones so I have a good idea where price has its supply and demand zones.
The jist of it is this, don't try and short this. Just go long... Shorts will be rekt all this week, it won't be in your favor... I normally do the swing trading thing but quite honestly it's looking stupid bullish, and it won't be worth the effort to wait out the swing lows, they likely won't be too profitable but just high risk so that's why they won't be worth it. The swing lows may not end up being way too low, albeit knowing these c**ksucker exchanges, expecting a red "bart" candle down into the abyss just to liquidate everyone that has obviously caught on to the super bullishness this next week cannot ever be ruled out. Just remember, when things are obvious, and they will likely be next week, don't do super high leverage, will never end up in your favor. They will just candle wick you right off the honeypot. This means likely nothing higher than maybe 15% leverage at the highest to be safe. If you're anywhere new to this, just understand that the exchanges are all about liquidating as many people as possible, that's how they make money. That means YOU and YOUR MONEY, especially when there is a pattern that is way too obvious...
If you absolutely want to try to gamble with the swing because you're like me and you set like 1% of your portfolio to gamble with, I suggest shorting from 10780-10800 region into around 10680 to be safe. If you're simply looking for a low to buy from, it may not come till early morning US time. It will likely come super fast so you should have your limit order in wedged somewhere between 10680 to 10650 ish, although the higher end may be the boundary.
As I said:
-SMART PLAY: Don't short BTC at all this week. You'll get a chance likely on Friday. Just go long, stay long and get out near 11300 (maybe a bit lower just to be safe and lock in your profits).
-DUMB / SUPER-ADVANCED-TRADER PLAY: Short the 1.618 swing projections, I think they'll likely play it high and deep instead of the usual 1.272 or 1.414 projections on the high side. God knows where the lows will be though, don't expect the 1.272 swing back down to come into play though... FYI: this is why I was trying to play with the channel fibs, to see where I can find support lines. Resistance is going to be futile this week.
I strongly urge you guys to not play the short swings this next week because they will NOT be profitable. (Unless another BitMEX happens... sigh). I have spotted what's called an "anti-cypher" harmonic pattern in the works, and coincidentally it's fibs are working out perfectly with how I imagined things to go.
I've just been playing around with fib channels a lot and I'm pretty convinced that 11300 is in play by the end of this upcoming week. Just trying to map out all the support and resistance channel fib zones so I have a good idea where price has its supply and demand zones.
The jist of it is this, don't try and short this. Just go long... Shorts will be rekt all this week, it won't be in your favor... I normally do the swing trading thing but quite honestly it's looking stupid bullish, and it won't be worth the effort to wait out the swing lows, they likely won't be too profitable but just high risk so that's why they won't be worth it. The swing lows may not end up being way too low, albeit knowing these c**ksucker exchanges, expecting a red "bart" candle down into the abyss just to liquidate everyone that has obviously caught on to the super bullishness this next week cannot ever be ruled out. Just remember, when things are obvious, and they will likely be next week, don't do super high leverage, will never end up in your favor. They will just candle wick you right off the honeypot. This means likely nothing higher than maybe 15% leverage at the highest to be safe. If you're anywhere new to this, just understand that the exchanges are all about liquidating as many people as possible, that's how they make money. That means YOU and YOUR MONEY, especially when there is a pattern that is way too obvious...
If you absolutely want to try to gamble with the swing because you're like me and you set like 1% of your portfolio to gamble with, I suggest shorting from 10780-10800 region into around 10680 to be safe. If you're simply looking for a low to buy from, it may not come till early morning US time. It will likely come super fast so you should have your limit order in wedged somewhere between 10680 to 10650 ish, although the higher end may be the boundary.
As I said:
-SMART PLAY: Don't short BTC at all this week. You'll get a chance likely on Friday. Just go long, stay long and get out near 11300 (maybe a bit lower just to be safe and lock in your profits).
-DUMB / SUPER-ADVANCED-TRADER PLAY: Short the 1.618 swing projections, I think they'll likely play it high and deep instead of the usual 1.272 or 1.414 projections on the high side. God knows where the lows will be though, don't expect the 1.272 swing back down to come into play though... FYI: this is why I was trying to play with the channel fibs, to see where I can find support lines. Resistance is going to be futile this week.
