I shorted 9450 and 9550 with unfilled targets at 9650 and 9750. Closed a third at 9220 actually anticipating mini pump to fill my higher rungs. I think your tight stop above last wick puts you in some danger to the final push should we get one but I appreciate your all balls style lol. My final target for the short is 8200ish as I suspect that previous resistance will provide enough support to launch next wave to 11k area.
DMG_Intelligence
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@BullWick, Thanks, I like your analysis bro and i agree that I might get stopped out. If that's the case I will look for another short when price drop and touch back the previous daily support ($9294.5) which might act as resistance. May I ask you, what are you looking for when you place your shorts at $9650 - $9750?
BullWick
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@DMG_Intelligence, What I'm looking for from there is a return to the bottom of that channel u posted below. Basically I'd be treating the run from 6500-9750 (or 9550 if already in) as a 1-2-3-4-5 higher degree 1. Looking for ABC 2 down to the 75-7800 level, though I will likely close the vast majority of my short by 82-8300 and just start laddering in long at fibs/support levels below.
I don't agree. I'm not expecting us to drop anywhere near $7629.
DMG_Intelligence
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@russukarian, Thanks for your comment, are you short or long now? I think the best thing to happen to BTC is touching back that weekly ($7629) which might act as support, creating a higher low in the big timeframe before going up and making a higher high. This movement would be very healthy
Paname
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I agree my friend
DMG_Intelligence
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@Paname, Thanks, appreciate that! I entered short at this level exactly after seeing the weekly rejection