Bitcoin has adapted to the zone and is carving out a space that involved an ascending channel and a fibonacci game of tag. We can clearly see that we are in the fib zones on the short frame and as we need to be focused on a pullback, nothing is really giving us the indication that it is going to happen as we have buy orders waiting on the support/resistance...
Right or wrongly, as soon as the word ' taper' is announced, or even eluded to - the market goes into Ape mode and trades axiomatically - in full Ape mode it means:
- Sell SPY
- Buy DXY
- Sell commodity currencies.
Tapering is actually positive, so in effect the right thing to do if you don't want to scalp the short Ape Trade, is buy at lower levels...
We can see that price has just bounced off a key resistance level in our resistance zone, you can see where price has entered or just touched this zone and bounced, And price is not far away from an all time high price.
Now with the way the US is going and the way its been led by these idiots who are zombifying the whole country... we can see a zombie apocalypse...
haha got to love weekends and openings. Another reason why i teach people to not leave trades open over the weekends when they are technical and looking at timefreams lower than the 1D
The channel is acting like a channel and AMT is back to the top of it with no material difference in the RSI or cycle envelope since the last time...
Did fail to tag the bottom of the channel bit it has done that before.
