ALWAYS Use a STOP LOSS on your trades. Trading is not a sprint, its a marathon. 1.5%-2% on each trade or you are playing a loser's game. The goal is to stay in the game as long as possible and polish your skillset!!!!
Risky trade. Only 1.5% risk. Position each trade properly!
If BTC tests and fails at Zone 3, the probability of Zone4 holding are very slim. It will be its 3 test and after a small bounce, BTX will go down through it. $10,800 is a very important Bull/Bear zone for Bitcoin.
In my opinion, that's where many expectations are going to fail and the distribution range will culminate. The much-expected bull flag is going to fail.
GOLD is finally broke out of the major consolidation/range and is heading north, however, the test of the VPOC is still expected.
RT_Y projections of support fade trade.
RT_Y is currently exhausted into a major support zone. High odds of tradable reaction trade on Monday.
The break below the current major Support Zone will result in changing the intermediate Bias to Neutral and short term Bias to Bearish. A complex Head and Shoulder top is forming and the right shoulder could be due with the next Fed rate cut or the right Tweet, however, the overall picture is somewhat concerning.
Bitcoin is finishing forming the local double bottom and about to test Resistance 1. The price looks a bit exhausted into it, so a small pull-back to Support 1 will not be a surprise. The volume looks pretty weak and the continuation pattern has some ODDs of failing and dropping below Support 1 into Main support.
Possible double bottom formation leading to 1st target of $10800 with a small retracement prior to that.
BTC has tested the bottom of the 5-week value range the 2nd time over the weekend. The bounce of the support zone is not significant compared to the first one, which puts higher odds in BTC breaking down from the range and closing the CME gap and testing the NVPOC of the previous range at 8000-8500.
Main Target for next week. Fall below $9500 will invalidate the upside target and change the intermediate and short-term bias to bearish.
If the support holds next target in NVPOC of the range.
BTC new Balance Range. Where will we head after?
5861 on Bitfinex is a major Resistance Area. We might see a strong reversal if this area gets rejected. Possible back to the low of the year.