We can see that this fib retracement (pull is from 5th of august low to 52.9k high) is still being respected very nicely, and offering very nice trades. From the drop of the 7th of sept., we bounced off the lower end of the fib golden pocket, only to retest the top of the fib golden pocket on the 13th before going higher You can then see how the 38.2% was...
Before we start, sorry for the messy chart, just trying to provide you with the most information in this one So, we got to 48.8k on the weekend with a lot of people longing into the mid of the pitchfork that you see on my chart, offering us a good short opportunity, giving us honestly the only good trade in those past few days. We then made our way down to the...
BTC is currently at the VAH which is in confluence with a fib golden pocket, which makes it an important level. Should we break this level, it will confirm weakness on BTC as it struggled to stay above 48k Targets to the downside will be 46k then VAL at 44.8k If this support (47.2k) holds and 48k is reclaimed on decent volume, I expect BTC to go for the fib...
BTC is in a descending channel, and is right now near the top of this channel If we reject, look for the midpoint then low of the channel If we break to the upside, we have resistance at around 47.4k, 48k, and finally 49 - 49.5k (fib golden pocket) We also have the anchored VWAP which acted as resistance twice in the past few days which we are hovering...
The level that we were looking at for weeks got rejected for a 20% move, pretty crazy. Unfortunately I was in a short from 52.7k but closed it too early (49.5k), which was still a good trade but I would've preferred to still be holding it of course. Anyways, guess where we bounced from? It's getting funny at this point, but we bounced from the fib golden pocket...
BTC rejected the top of the fib golden pocket which was around 52.7k and gave us a nice pullback We are now at the daily level which is holding for now If we break it, the next level to look for is the fib golden pocket at 48.7 - 49k Then lower we have the daily at 46.8k If we bounce from here, I'd like to see the reclaim of 51.1k which acted as resistance...
BTC is in this channel on the LTF, we just got a very big wick above it and we have now lost it. If we hold below this channel (not wick like we did to the upside) next support to the downside is 51.1k then 50.3k (fib golden pocket). Lets see if we hold below this channel, if we get back in it and break to the upside, you know what level to look at (top of...
On the weekend we bounced off the daily level at 49.5k which was in confluence with a fib golden pocket I personally longed 49.6k and I'm just gonna chill to be honest, we'll see the reaction at the high of the fib golden pocket that we are in at the moment which comes around 52.7k A bit of market psychology : some people are getting bearish as this 51-53k level...
As I said yesterday, I was only looking for shorts, I still hold my view, I think longing here is a bad idea. Doesn't mean we can't go higher its just that the risk/reward isn't good enough. Yesterday we formed a lower high at around 50.4k, where there was a lot of longs opening, which was a good short entry signal. I'm in a short from 50.2k with my SL moved to...
As I said yesterday, if BTC comes back up above 49.1k we can expect to see prices back above 50k, and that's what we got. Next levels to look at are 50.6k which is the high that was put in on the 23rd of August, then we have the big fib golden pocket all the way from 51 to 52.7k I'm in no position at the moment, got stopped out of my short. If you're not in a...
Guess where BTC rejected from again? Surprise surprise it's the fib golden pocket. As I told you this morning I was in no position, and I was looking for the fib golden pocket at around 48.6k, it didn't give us much of a reaction, so I waited for the highest fib golden pocket which was at 48.9 - 49.1k This was the last fib golden pocket which made it that much...
Today at 1am we swing failure patterned the low that was put on the 31st of August at 46,712 and are now at the fib golden pocket, which isn't giving us much of a reaction yet. A bit higher we have the more important one still at around 48.6k I'm currently in no position, as I don't see a very good setup for now. Note that I am not trading the pitchfork anymore,...
As I said yesterday, BTC was coming into important support levels. We ended up bouncing off the 1 to 1 fib extension at 46,750 and we then reclaimed 46.9k to then pump. I'm personally in a long, as I told you if these support levels hold look for longs, and that's what I did, simple. Long support short resistance. 1st target is the fib golden pocket at around...
BTC bounced off the golden pocket that I gave you in my last post this morning, and rejected the fib golden pocket once again. I personally shorted it again, BTC has just been respecting this level too well, its basically free money at this point. Now we are coming near the lows of the pitchfork, and I just took 30% profits from my short. Let's see how BTC will...
Yesterday, we rejected perfectly off the middle of this very well respected Schiff pitchfork I personally shorted the exact dollar high, but I'm now out of my short and in a long. As I said in my last post, I wanted BTC to go for the fib golden pocket at around 47.5k, and we got it this morning, we are also bouncing off the 0.786 of the pitchfork. So I'm...
In my last post I gave you the resistance levels to be aware of, and the daily was one of them. Yesterday we swing failure patterned this level and got a very strong follow up. Unfortunately I was asleep so I couldn't catch this trade. There are no trades atm so you have to be patient. I actually expect higher, even though we got this strong rejection and would...
As I said in my last post, the fib golden pocket has been respected very well lately, and this time was no different. We bounced off the fib golden pocket that we were looking at for quite a while at 46.1 - 46.5k and are now heading to the upside. I told you to look for longs should we reject it. I am expecting higher for now, and would like to see BTC go for...
Yesterday, after the bounce off the low of the channel, BTC reached the fib golden pocket which gave a strong move once again. Lately BTC has been respecting the fib golden pocket very well, so always something to keep in mind. Now, we are reaching the fib golden pocket that we have been looking at for some time at 46.1 - 46.5k, and if we see a rejection look...