We have most likely formed weekly higher low (compared to last at 6500), fractals from previous dump suggest we already hit bottom. We are just waiting for retest and confirmation with daily higher low(compared to 7050$). We are most likely forming equlibrium on after all this dumping. Target will be to 8300-8800$. We can than break bullish weekly equlibrium or get even more tight with another higher low and lower highs.
My play will be longing big 7150-7100 and hold it to 8500$ where I will start to hedge to 8800$ in case we get another higher low. And add to long at 8k and ride it, weekly bull break of equlibrium will give at least 30% gains in a week. Note that if we break bellow 7k now it will look very poor for bulls and we can easy have 1k red candle.
Entry: 7100-7250$
Target 8800$
SL: 6950$
My play will be longing big 7150-7100 and hold it to 8500$ where I will start to hedge to 8800$ in case we get another higher low. And add to long at 8k and ride it, weekly bull break of equlibrium will give at least 30% gains in a week. Note that if we break bellow 7k now it will look very poor for bulls and we can easy have 1k red candle.
Entry: 7100-7250$
Target 8800$
SL: 6950$
Note
If you want to long it with leverage I suggest using deribit(50x) or bitmex(up to 100x). First one is lag free and second one has bigger liquidity.deribit.com/reg-1049.6399
bitmex.com/register/PcVcaX
Trade active
We have broken of rising wedge, there is usually retest of break area(not always), and I see potential HS forming, if u want to play it short term u can scale shorts up to head of HS with SL above. This hs also gives target of 7100$ which would be nice entry for long.
Entry: 7470-7540
SL: 7610
Target: 7100
I am already short from break of wedge, if we go up to retest I will add to short.
Note
Well HS clearly didnt play out. Got stopped out This is what I am looking for, once more pamp to trigger some stops and whales can short(break above that green line) and after we start slow damp into sunday which will accelerate on monday. 5-6 june we should see 7100-200 area to long.
Trade active
Short is going well, filled at +7700 range. Lets see how far down we go. Looking to long on 6th.Note
WE are closing on target to go long. I am staring to fill my bids here and lower.Trade active
Longs filled, lets hope for the best now.Note
7k didnt hold, big dump after like I said if 7k breaks we have big red candle. We are forming triangle, Possible continuation or some recovery. Got buy orders above 6800 if we break bullish.
Note
broke bearish. , damp to 6k looking like capitulation.I am long from 6300. We need to see daily higher low for confirmed trend reversal. We should soon have a bit more clear picture.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.