The 9 candle broke out above Doji resistance, this 1 candle is at the intersection of:
- uptrend - infinite downtrend - after 9 - MA 3/12 - Tenkan/Kijun - below 4K
WTF!
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My Pitchfork levels show the same behavior again and again. Look at the Pitchfork levels yeah? The down-right slanting rainbow whatever.
Price tests the border of each level, retraces, and then breaks out.
The breakout of level D would happen with this confluence of indicators:
- above MA 12 - above downtrend - above Tenkan - with Bullish Twist in future projection - on 1D chart - on a steady sustained uptrend leading to 4K - before a 9 on 1M chart
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Price will return to Pitchfork center lines 80% of the time. That would put the target in the 4800 area where it would either rocket up or retrace, most likely.
Trade closed manually
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I just took profit on BTC. Consider setting buy orders at 4230. Will post again soon.
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1W MA 12 and RSI are pointing downwards and price is struggling under resistance across the board. Selling I think is safe as rebuying should be easy. I don't see a wicked rally here but if there is, just consider catching it at 4230 if you don't want to fomo. Good profits were had in these trades. No need to be greedy here.