Could last nights action have been a stop hunt?
However, the . of the ENTIRE uptrend we have seen since Oct 29th lies at $6,350.
Even more , the 50% is at $6,390.
If we hold $6,390 or above on this daily candle, this weekend should be very interesting. We could be starting a potential wave 3 which means a huge spike could come out of literally thin air.
If however we break past $6,490, we will look to $6,350 for support at the .618. If we don't see big increases at that level, we will revisit $6,200. If $6,200 breaks, down we go to potentially as low as $5,450 or so.
I'm . I believe this retrace was nothing more than a well-timed stop hunt before the big move. This is how they do it sometimes. I've been long since $6,300. I got stopped out overnight but since put in for another long at $6,400 with a stop just below the 500 day MA on the hourly, because is being seen on lower timeframes. There is a 50 cent 4h candle on Bitmex, a , which indicates selling pressure is possibly exhausted.
There is also MASSIVE hidden on the 4h.
Within the next few days we must make a very strong move, as we need to invalidate hidden divergence forming since $6,800.
I strongly suspect $10k is a lot less far away than people think.
In my previous ideas, I analyze the daily and monthly timeframes. Currently we are in a symmetrical triangle that I don't think many people are seeing.
It just so happens that at the exact same time this happens, shorts fell 30% or so.
Hmm. Sounds like longs filling their positions to me..
This is coinbase.
Very, very interesting here..
This is where I’d be dumping capital if I had any left