Looks like a reversal structure. Bullish divergence and Bitfinex buy wall.
There could be a quick dump before a rapid move back up. Long the dump once it bottoms. I believe the buy wall will be broken but they will pump the price up once that happens. Right now we are at a critical level, so a fakeout drop beneath could be possible.
Thanks for viewing! This idea will be invalidated if we get a major move down, not just a quick wick.
There could be a quick dump before a rapid move back up. Long the dump once it bottoms. I believe the buy wall will be broken but they will pump the price up once that happens. Right now we are at a critical level, so a fakeout drop beneath could be possible.
Thanks for viewing! This idea will be invalidated if we get a major move down, not just a quick wick.
Comment:
I will scale in.
Trade closed: target reached:
Closed for 3% profit.
Trade active:
I will be shorting this now. Please click on the idea below if interested.
