Morning folks,
So, we set for 85K sell and it worked. Downside reaction happened, but still, we call you to move stops to breakeven for some case.
The problem that we see is the market behavior. We see it not natural for normal bearish market. BTC stands stubbornly around K-resistance, not showing normal downside extension.
Our scenario of downside continuation from ~85K area is not broken yet, it is valid, and maybe everything will happen as we've suggested initially.
But we see the risk in the way of market behavior. It could lead to more extended upside bounce in the way of upside AB=CD pattern right to 88k resistance.
It means that if you already have bearish positions - move stops to breakeven. If you don't - do not take the new once for awhile. Or, at least, you could take but not more than 25-30% of your normal lot.
Our bearish scenario remains valid until market stands under 85.1K spike (because this is bearish reversal session on daily chart) and below 85.5K resistance in general. Upside breakout means an action to 88K.
Since we do not have the breakout it, I mark our update as "bearish", but we warned you... Take care.
So, we set for 85K sell and it worked. Downside reaction happened, but still, we call you to move stops to breakeven for some case.
The problem that we see is the market behavior. We see it not natural for normal bearish market. BTC stands stubbornly around K-resistance, not showing normal downside extension.
Our scenario of downside continuation from ~85K area is not broken yet, it is valid, and maybe everything will happen as we've suggested initially.
But we see the risk in the way of market behavior. It could lead to more extended upside bounce in the way of upside AB=CD pattern right to 88k resistance.
It means that if you already have bearish positions - move stops to breakeven. If you don't - do not take the new once for awhile. Or, at least, you could take but not more than 25-30% of your normal lot.
Our bearish scenario remains valid until market stands under 85.1K spike (because this is bearish reversal session on daily chart) and below 85.5K resistance in general. Upside breakout means an action to 88K.
Since we do not have the breakout it, I mark our update as "bearish", but we warned you... Take care.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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.