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Quick update lets see what happens, just be ready.
I think we gonna drift lower in Asia to retest the trend line and then one of two scenarios will play out primarily depending on the Powell's speech at jacksonhole tomorrow
We broke the trendline now currently retesting it so if we see a nice rejection Id hop on those shorts.
DAILY BREAKOUT WITH A CONFIRMING MACD AND MOVING AVG CROSSOVER, BUY PULLBACK ON A 4 HR BASIS OR BUY WHEN PRICE ACTION RETREATS TO 8 EMA ON DAILY
Waiting for the trend line break and then take out horizontal support for more downside to come.
Just wanted to post a chart that Ive been discussing in my videos.
We are correcting lower and should target previous wave 4.
We are still within the daily triangle consolidating but we are coming to the end of it so the breakouts will happen and thats the trades we'll be taking.
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short play ...
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Dont FOMO :)
Im still not convinced there is a strong bullish bias whatsoever, the corrective price action is anemic so look for signs of exhaustions for now. You can do long scalps however outlined in the video.
Going to wait for more decisive moves before hopping on the trades but several possibilities are outlined in the video.
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I outline a few scenarios for possible trades to the downside, and the reasoning behind them.
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Short once we have a 15min close below the confluence of horizontal and rising trendlines with a moving avg cross over.
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can do a scalp long here w stops below low or if lower trendline is broken hop on aggressive shorts
We are at he latter stage of the triangle so watch out, trade smaller size and wait for the breakdown or breakup to either direction
Just explaining bitcoin collapse in the last 48hrs and for those who missed out on the trade what to do to get into this action.
On 1 hr chart put on fibs and sell around 10700-10800 after you see a rejection from those levels.