TECHS looking nice for shorts next week. Stops above Targets Below.
It's a cute setup here. Looking to short soon with stops above the all time highs. Target listed below.
Need to stay below to short. Targets below.
Curious to see how price reacts a little higher for a short entry. Would expect to see momentum slow down to reverse. Would stop out above swing high and would probably look for targets below.
I believe a significant correction in BTC is coming.
Interesting failure to lose. Would stop out below recent swing lows.
Looks like we failed to gain. Looking for lower, and stop just above ATH
Continuing analysis of trends, I looked at each blow off top, or move to highs, and calculated it's percentage in market tops from back to 1987. The luxury is I know where the top is. Current price is definitely in that range of past market tops. No matter where the price of where the top gets put in, losing the 2090 area will signal a market crash, no doubt in my mind.
I wanted to compare volatility with price action leading into trend failures. I wanted to see how complacent traders/investors were. Did they see the trend failure coming? Paying particular attention to the 2008 crisis, I can easily see distribution forming wedge patterns at market tops. This is what I would expect to see. Leading into 2008-9, I noticed...
Expecting some sideways action to slow down momentum as we approach support. The huge wedge was telling. All moves are setup first, then some sort of news gets released to create liquidity, and boom... the move happens. Don't get it twisted. Read the charts.
Need to gain levels before working back up. Will take time I'm sure.
Not a chart I typically look at, but looking good.
High appears to be lost. Would be looking for a short back down the leg. Targets listed. Gaining what the high lost would be bad for shorts.
Back down? Looks like a decent trade setting up. May take some time.