BTC (Y20.P2.E18).Consolidation in a large macro formation
Hi All,
I hope you all did well as it was a good opportunity. Yesterday I was too busy trying to find the top to sell.
This time, I did well by playing the 1 min. chart near the top.
I made 2 trades in the 2k run, and sold at the near top for good reason.
Now looking to do shorts until the rest of the puzzle reveals itself.
Here is what I'm foreseeing of some sort.
With a good run, one expects a pullback, consolidation, and an continuation pattern as we have the uptrend back.
Just like ETH, i just posted, I'm seeing a bullish wedge within the framework of a bigger pattern.
But that is yet to be revealed.
For now, there is a good cradle setup. 2 touches to the top, 2 to the bottom, and now we are getting an nice invite to jump in.
The wedge pattern is a bonus.
This update is a continuation of the previous post where I talk about the macro structure and hence you can envision how this fits in.
My initial hypothesis on BTC that its taking an inverted BARR structure is holding true and hence why I'm doing well.
Refer to my posts links below for the background for this post
4 HRLY chart
Complimentary charts
Previous posts
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The rest is self explanatory from the chart.
Please give me a tick or a like for this post.
Regards,
S.Sari
I hope you all did well as it was a good opportunity. Yesterday I was too busy trying to find the top to sell.
This time, I did well by playing the 1 min. chart near the top.
I made 2 trades in the 2k run, and sold at the near top for good reason.
Now looking to do shorts until the rest of the puzzle reveals itself.
Here is what I'm foreseeing of some sort.
With a good run, one expects a pullback, consolidation, and an continuation pattern as we have the uptrend back.
Just like ETH, i just posted, I'm seeing a bullish wedge within the framework of a bigger pattern.
But that is yet to be revealed.
For now, there is a good cradle setup. 2 touches to the top, 2 to the bottom, and now we are getting an nice invite to jump in.
The wedge pattern is a bonus.
This update is a continuation of the previous post where I talk about the macro structure and hence you can envision how this fits in.
My initial hypothesis on BTC that its taking an inverted BARR structure is holding true and hence why I'm doing well.
Refer to my posts links below for the background for this post
4 HRLY chart
Complimentary charts
Previous posts
===============================================================================================================
The rest is self explanatory from the chart.
Please give me a tick or a like for this post.
Regards,
S.Sari
Comment:
Chart revealing more of the missing pieces. Not a wedge but and elliot triangle
Comment:
Note:
Bitcoin gained more than $1,000 Wednesday to reach a local high of more than $9,400.
There have only been 13 other occasions that saw such large dollar value gains over a 24-hour period.
These +$1,000 days typically precede a Bitcoin downtrend that can last for months.
So not to be complacent, we need to track the 12 H and Daily indicators
Looking at the 1 hr and 2 hrly, its looking good, The 3 or 4 Hrly are on the edge of of bullish and bearish in the short term. The candlesticks don't give us much. So the next 3 hrs would tell us if we are going up or not.
Bitcoin gained more than $1,000 Wednesday to reach a local high of more than $9,400.
There have only been 13 other occasions that saw such large dollar value gains over a 24-hour period.
These +$1,000 days typically precede a Bitcoin downtrend that can last for months.
So not to be complacent, we need to track the 12 H and Daily indicators
Looking at the 1 hr and 2 hrly, its looking good, The 3 or 4 Hrly are on the edge of of bullish and bearish in the short term. The candlesticks don't give us much. So the next 3 hrs would tell us if we are going up or not.
Comment:
looking good
Comment:
not looking good anymore for the short term.
On the daily, we have a bearish signal with the RSI indicator, and with the TD sequence and with the candlesticks. Candlestick 8 and 9 have a bearish formation.
What does this mean? There is no imminent massive drop, it just means for now, we have more lows to go and looking at the rate its still gives us hope for another up attempt. We need to see the 2D and 3D to cross over to the negative to say momentum is lost.
On the daily, we have a bearish signal with the RSI indicator, and with the TD sequence and with the candlesticks. Candlestick 8 and 9 have a bearish formation.
What does this mean? There is no imminent massive drop, it just means for now, we have more lows to go and looking at the rate its still gives us hope for another up attempt. We need to see the 2D and 3D to cross over to the negative to say momentum is lost.
Trade closed: stop reached:
This chart is now superseded by newer postings
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Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.