Looks great on the HTFs, but we need to dump to least 255 first. Reaching 255 fills a gap and taps demand; it's a decent probability area for a rally up to the 600s sometime in 2021, if BTC allows it. Otherwise, next logical reversal area is 180-150.
EURUSD price inefficiencies, 2000-2020
Similarities with 2006-2010:
- Two created+filled
- HL formed
- Partial fill forms a LH
We got a 6 month dollar rally last time. So, strong dollar until March 2021?
1.093 is logical target for me
Gameplan valid as long as BTC remains below 12.1k.
IF we reclaim below range high @ 10.6k, imo tapping demand at 9.6k is imminent, and we will have a bullish and bearish case, both marked on chart:
- Bullish case (green): Demand holds, bullish MS preserved, consolidate then mark up to new highs
- Bearish case (red):...
The charts used here are very wide, right click and open image in new tab:
Background. The last two Bitcoin market cycles featured:
- Clear HTF downtrend: LHs and LLs
- A definitive HH signifying a major shift to bullish market structure
- A gradual uptrend that built momentum until it...
1) Is the high in?
2) Is the next low a LL?
These determine whether 1D MS is bullish, bearish, or neutral, which then determines the most likely path. These 3 cases in green, red, and white
It's clear that 0.20-0.21 was the place to buy; it was the HL after a bullish MS change.
But right now there's no unambiguous plays that are confluent with the implied MS....