16k on the way, Liquidation event soon.
Just posting a quick update for the short 'crash soon' post i made recently.
Importantly;
a) We are seeing NO upward action at all from the 20k line (price barely bouncing a 100-200 on break out attempts), super bearish signal meaning MM are being heavy handed on the dumping and unwilling to risk pumping.
b) Technicals on the 3H/6H/12H/1D ALL SHOW price expansion to the downside - blue is below 20 on all those major short term TF's and this gives cause for continued major expansion lower(below 20 leads to price continuing downward direction, above 20-30 means in the possible are to find support). WHEN they all line up simultaneously in this fashion it is a PREMIUM signal for downward action and that this move will be significant.
c) the BB's are already opened up for the downward expansion significantly, even the short term hourly's are starting to have the 18k/17k area easily accessible let alone the daily's.
Furthermore, If not obvious from the bearish FED News Friday evening, the asian/European markets (stock market) are yet to react to the news given the timezones where closed... one SHOULD expect heavy selling when they open.
Given how price is moving I would estimate we are on track for hitting 16k on the next daily candle. ie less than 24hours now. Bulls are in delusion thinking the MM wont take out the SL liquidity that has built up near and below 17k from the new 20k buyers.
Stay focussed and remember to take profits on the short positions when we get to the initial 18k line target, and heavier so when at 17/16k. We will close the shorts in totality when a bottom support is found (i will post at that moment)
Remember this will likely be a wild liquidation event so price can move fast and may not stay in the 16k area for long at all - we are on the hunt for long entries as directed by my last post regarding price action for September.
Goodluck
Asset Mastery.
Importantly;
a) We are seeing NO upward action at all from the 20k line (price barely bouncing a 100-200 on break out attempts), super bearish signal meaning MM are being heavy handed on the dumping and unwilling to risk pumping.
b) Technicals on the 3H/6H/12H/1D ALL SHOW price expansion to the downside - blue is below 20 on all those major short term TF's and this gives cause for continued major expansion lower(below 20 leads to price continuing downward direction, above 20-30 means in the possible are to find support). WHEN they all line up simultaneously in this fashion it is a PREMIUM signal for downward action and that this move will be significant.
c) the BB's are already opened up for the downward expansion significantly, even the short term hourly's are starting to have the 18k/17k area easily accessible let alone the daily's.
Furthermore, If not obvious from the bearish FED News Friday evening, the asian/European markets (stock market) are yet to react to the news given the timezones where closed... one SHOULD expect heavy selling when they open.
Given how price is moving I would estimate we are on track for hitting 16k on the next daily candle. ie less than 24hours now. Bulls are in delusion thinking the MM wont take out the SL liquidity that has built up near and below 17k from the new 20k buyers.
Stay focussed and remember to take profits on the short positions when we get to the initial 18k line target, and heavier so when at 17/16k. We will close the shorts in totality when a bottom support is found (i will post at that moment)
Remember this will likely be a wild liquidation event so price can move fast and may not stay in the 16k area for long at all - we are on the hunt for long entries as directed by my last post regarding price action for September.
Goodluck
Asset Mastery.
Comment:
Monday markets opening, price breaking prior low.
