MARKET UPDATE: After only a single day of consolidation BTC
closed over the $10,218 Bear Hammer
and printed weekly higher high over the $10,370 pivot
on Binance. Price is trending the daily 12 EMA
and the 8h remains the “best fit” visual guide 12/26 EMA
pair for lower time frame oversold long entries on most tickers. The higher price climbs without daily and weekly consolidation the more cautious we need to be as Bulls because at some point the rug is going to get pulled. While we patiently wait for an oversold pullback to support we have some extremely bullish
market conditions that can be taken advantage of from a Day Trading perspective. One could anticipate a bullish
response to the first 5m oversold conditions since the Bull Rip. After the Bulls stop buying the 5m oversold conditions one could anticipate another bullish
response to the first 15m oversold conditions. My trade game plan for today is to long 200 EMA
visual guides on the lower time frames and close 50% at or near prior pivot
highs and let the rest ride. One could expect to flip each ticker twice in about a 24h period. (This is my personal trade game plan please make your own trading decisions). The Day Trade PNLs below are calculated from lower time frame 200 EMA
support to the prior pivot
highs vs BTC
. As long as BTC
holds these PNLs will be magnified vs USDT.
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DISCLAIMER: I do NOT offer financial advice. I am not a financial advisor. The content is for educational purposes only. YOU are responsible for your own investment decisions.