So we have reached my target where I called to long if the 0.5 Fib breaks on 11.465 !!!
So as we can see here... 0.618 Fib acts as resistance. Our 13.425 Target was reached and so it is time to take profits.
We only continue to long if we see some new or Support forming!
Follow for more ideas like this =D
Good Luck Trading!
The Fib was broken. So now it is acting as support.
The Longs were just a bit above the Fib on 13465 and on the Fib Support.
The SL has got to be wide with a wise Money Managment position beneath that Fib Level.
The aim now is to the next FIB or to some bearish pattern.
Currently trading on 13750 as of writing.
And the next Fib is on 16.2k. I wouldn't be surprised if there ain't gonna be some shake-outs comming though.
Nonetheless, it's already not wise anymore to be longing such parabolic moves.
Buy red, Sell Green.
Hope you doing well.
Yeah like we both agreed there.
We might had broken this FIB, but it was self-explaining that Shake Out plays will be in play.
And therefore we went from 13.8k to 11.5k just aftwards.
Did you see my another Bitcoin Market Cycle Analysis?
I uploaded it to short position on 13.7k just 30 minutes before the drop happened...