My view in 1 pic | If confirmed looking for 100 DEMA first #BTC
Very self-explanatory. We have formed a channel with two touches either side and recent rejection at the midline. Looking for a retest of the bottom boundaries that could very well coincide with a retest of the 100 DMA and 100 . Would be a great buying opportunity. If these fail, I would be looking for the 200 DMA and for the final big deployment of FIAT. I'm hedge short and have stops at the red box above the midline. Will add more to the position if we cross below 10130 in the next 9 hours according to the 12HR GT Strategy (See related article below for free access to the GT Strategy Indicator)
Currently, we are approaching the top of the channel, and there might be a decent rejection at ~12k, but no guarantees.
My long is still open according to the 4HR GTS and will not try to catch the top in case we see a breach and continuation especially since my stops are already in good profit, and IF 12k gets melted there will be some insane volatility.
I expected that we would reach the 100 Day much quicker than we did and so I don't think we will see it hold as it is much higher now than previously expected. I think it would be reasonable for it to fail as support and for us to break down to the bottom of the channel, briefly piercing the 21 Week MA (The lowest stepped-line on the chart) and reversing from there towards the midline and eventually breaking out at the top. I believe this move will front-run many orders who think we are still gonna go down to ~7k and lower, creating a great fomo opportunity as we move higher. This also gives 3 really nice touches to the massive flag on either side, good midline interaction and a great continuation pattern to kick off the next major move to challenge 20K late 2019/early 2020, just in time for the halvening.