Another critical level for Bitcoin as it is "trapped"!
It remains yet to be seen whether #BTC will break out of it's shell for a midterm reversal or will bears bury it into the ground?
We have all seen a lot of bull-bear battle going on with these insane spikey "pump-n-dump" and I also suspect there is a lot of manipulation underlying some of this in addition to big time players trying to move bitcoin's price around tossing it all over the place like a rag doll.
This looks like a nightmarish no-trade zone for higher time-frame traders, but once this move is confirmed in either direction, it should generate a nice trade setup.
The point of this analysis is:
1. To realize that we are at a critical decision point
2. To find out where/how to confirm once a decision has been made
3. To prepare to use this data combined with new data and confirmation of trend decision to possibly enter a high-probability trade
More details on chart!
**Any content of this published idea should not be relied upon as advice or construed as providing recommendations of any kind. It is your responsibility to confirm and decide which trades to make. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations. Past results are no indication of future performance. In no event should the content of this correspondence be construed as an express or implied promise or guarantee.
Good luck team
BTCUSD
It remains yet to be seen whether #BTC will break out of it's shell for a midterm reversal or will bears bury it into the ground?
We have all seen a lot of bull-bear battle going on with these insane spikey "pump-n-dump" and I also suspect there is a lot of manipulation underlying some of this in addition to big time players trying to move bitcoin's price around tossing it all over the place like a rag doll.
This looks like a nightmarish no-trade zone for higher time-frame traders, but once this move is confirmed in either direction, it should generate a nice trade setup.
The point of this analysis is:
1. To realize that we are at a critical decision point
2. To find out where/how to confirm once a decision has been made
3. To prepare to use this data combined with new data and confirmation of trend decision to possibly enter a high-probability trade
More details on chart!
**Any content of this published idea should not be relied upon as advice or construed as providing recommendations of any kind. It is your responsibility to confirm and decide which trades to make. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations. Past results are no indication of future performance. In no event should the content of this correspondence be construed as an express or implied promise or guarantee.
Good luck team
BTCUSD