I just wanted you guys to realize we have another correction before the move up. Two targets are on the screen. First target is the higher probability target. That area is almost guaranteed at some point in a future. The second target is a lower probability but still likely. Trade safe. This will wipe out a lot of people.
I generally find shorting indexes to be counter productive because targets generally fail. This is a situation where a short is totally justifiable and the scary part is the range on the indexes is so big we could have something totally catastrophic yet again. I would be very nervous to be holding a longer term position right now until price can make it over the...
Bitcoin is currently consolidating at a key level. If price action starts pushing down from here we will have a another big leg down. A break to the upside will justify shorter term dip buying.
Lets not get this wrong. On the bigger time-frames bitcoin is a wait and see.
This isn't a trade I am taking but
1)BB% have created a wedge.
2)Ab= CD pattern.
3)Candlestick reversal zone.
I see a corrective move up here. I am not a discretionary trader so I wont take this trade but its just what I see.
These are major support levels calculated from each major pivot since inception of the index. Keep these levels in mind because a sustained close below these levels will justify a move to the next one.
The methodology is 'secretive' so to speak but essentially it takes the average price from an entire move (from one pivot to the next)
Any sustained close below...