when taking lower ground eu is painting a pattern of testing resistance prior to a high volume drop, if you missed your short entry take a look, even if you're already short you might have a chance to add to it or tp and get back in haha anyway i'm curious to see if she pays out like i think she will.
keep your eyes peeled everybody
"smart money" has been exiting all year, a test to the recent high is going to be a crucial one, sm will make a historical move at that point. if we don't see huge volume here in the coming weeks and october volume closes lower than september's volume, btc is going down.
good luck to all
high volume selling last week suggest au is going down, same with eu, im looking for dxy to surge on uncertainty surrounding T 's health.
ill post a zoomed in chart with the high volume selling i mentioned in comments.
safe trading everybody
hmmm check it out... maybe an algo here, all these peaks are are 104 days apart, regardless of trend direction, I'm plotting this chart as an experiment to see if gen boosts at that same interval, if so gen will boost and peak in roughly 2weeks haha algo detected :)
wyck distribution schematic 1
I was thinking Friday to go long at the open but then I drew this up, the ar may have been fomoed boosting a little higher than schematic and phase b is somewhat distorted but overall eu is following Richard Wyckoff's distribution concept.
Forex open is always iffy and slow moving so im just watching close for now.
charting btc is the workout for trading easier instrument haha
this chart is basically based on support and resistance and the 21ema cross with the 60ema, the ema cross has happened twice since sept and the result was a 2k drop both times, so
I based the targets off of those two big drops and the fibs they hit on the way back up.
lets see how it plays out
this my short term take on bitcoins next move
kina obvious bear flag moving up with lower volume levels leading me to think that this will play out,
7850 to 7900 had some heavy buying, plus we'll be at the bottom or close to bottom of linear regression channel, and up from there,
I will update later
lots of speculation on wether or not this is bottom, Looking at btc from a price action perspective... IF this is our bottom range and we are in accumulation, this is what it would look like, volume has decreased considerably since that big drop on nov 24th, at that time volume was at 42.93 billion we are now at 20.193 billion, drop in volume might also indicate...
judging by the high volume Friday 22nd acb could have possibly hit it’s selling climax sending price action into automatic rally and now in supply trend, meaning we are in accumulation... imho, watching Monday for any further down move to establish a base line, I’ll re evaluate after the close Monday 11/25 but I am expecting “smart money will be building their...