We couldn't reach the maximum target at 880, the daily 200 MA reversed the price and print a doji. We are now in a range of equilibrium, which could give us more lower lows.
I still have stacked my order till 6k, thew worst case in took in consideration.
Btw i wanna quote this :
"Be Fearful When Others Are Greedy and Greedy When Others Are Fearful"
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SPY volume was barely half of the daily average at close. That is VERY bad for the longs. On the e-mini: If a close below the recent pin bar happens then I believe a lower high would have been made, keeping my predictions alive. If futures dive, obviously SPY follows.
Well the bears took BTC down and took price down fairly quickly. This morning I had outlined the box I was watching and wanted to see a break out above those $10,200's up towards $10,500 or a break down would occur if bears dropped us below $10k. Overall a very tight range and bulls looked like they were interested as they began poking above our 4 hour 12 and 26...
We saw a near perfect example of traders rushing to the exits on a loss of our higher lows. Following the same stair stepping up with new higher lows each day BTC was forming. We did have a bit of a sideways action and some may have decided $10,630 was a higher low and lost yesterday with a break down to $10,555. I...
D1 - Price has created lower lows currently it looks like a flat correction is happening.
H4 - Price is moving inside a bearish flag pattern.
H1 - Price is moving inside a small range, price has reached a critical zone formed by the top of the H1 range, H4 bearish flag and the fibo levels of the cycles we have and is currently moving lower.
Until the price...
D1 - Lower lows, no divergence against, 61% fibo at the end.
Until there is any opposite evidence we may expect possible continuation lower.
H4 - Until the price holds below the top of the range my view remains bearish here.
looking at the 1 hr chart and trying to figure what has happened so far from a Fib perspective..
Summary : i think it looks like an impulse down that is about to finish with a 5 wave going to the down side. yet the bullish potential of having a deep retrace for a bounce attempt is still not invalidated as we bounced off the 0.786 so far.
my fib analysis for...
Another bad day for BTC and crypto in general. I personally got stopped out after refilling this most recent position. Minimal damage done since I was able to flip the trade yesterday I outlined in last post but I am now back to cash and more or less just playing a game of patience here. Bulls need to establish some form of support as there's not much support...