BitcoinUpdated What I'm Waiting For - Higher Low - Levels and Timing
I got a nice long trade in from the 6800 area and went flat at around 11,200.
Over the coming days I expect to see price pull back to at least 9300 and consolidate sideways for a few days. I will be looking for clear support with a big volume green daily close starting at that level to help confirm a higher low. Below 9300 other possible areas of sideways consolidation may occur at the fib retracement levels. If we break below the critical larger channel (blue dotted line), which may intersect with around 6500 depending on timeframe, we may be looking at much lower price in our future.
Currently neutral and sitting on the sidelines until a higher low with clear support is formed.
Over the coming days I expect to see price pull back to at least 9300 and consolidate sideways for a few days. I will be looking for clear support with a big volume green daily close starting at that level to help confirm a higher low. Below 9300 other possible areas of sideways consolidation may occur at the fib retracement levels. If we break below the critical larger channel (blue dotted line), which may intersect with around 6500 depending on timeframe, we may be looking at much lower price in our future.
Currently neutral and sitting on the sidelines until a higher low with clear support is formed.
Note
Well, seems we're going for another breakout higher. At some point sanity should return... maybe?
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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.