Waiting for channel break!
Updated
Whole movement seems to be manipulated as I said in previous idea. I'm still out of position. MY setup for this will be waiting to break a channel then wait to retest back and i will enter a short position with nice RRR as follows
1st target the long support line
2nd target 0,5-0,618
3rd target 0,618-0,786
Follow me on twitter: @realMarketMage
1st target the long support line
2nd target 0,5-0,618
3rd target 0,618-0,786
Follow me on twitter: @realMarketMage
Comment
RSI is showing a weakness.Comment
Be careful stop loss hunting and liquidations are very possible to happen as always.Comment
Bearish regular divergence on MACD, I am very curious how it will continueComment
Channel has been broken, now its most important if we bounce back or notFollow me on twitter: @realMarketMage
Comment
Getting ready for the setup, but the real movement will happen tomorrow after markets will be opened.Comment
I hope you guys caught that pullback, i did. Depending how market will be strong in next moves you can adjust take profits. To be more conservative you can take porfits on 6,5K and 6K.Comment
Would you buy or sell this?.
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Its BTC inverted.. I would buy (meaning sell)
Comment
Could BTC break bull triangle on our inverted chart? Could potentially mean very bearish time for BTC. Lets see !Comment
Frequently shown another way how to watch current situation on BTC is rising wedge. I've spent a time analysing graph and there is a perfect align.The size of the wedge is also a target from pull back which fits 0,618 Fibonacci retracement
Follow me on twitter: @realMarketMage
Comment
We're forming a nice triangle, breakout down, which is very likely, could potentially mean next stop around 6450-6500 USD.Comment
Yesterday we hit that target around 6,5K and for now...BTC is showing its power but sadly this not convinced me that we are bullish. The movement seems to be a bulltrap to jump in long positions.
If you look at it from higher time frame. The accumulation of bulls is not happening we have poor monthly volume. We hit a long trendline as a resistence and still creating lower highs and lower lows. I'm not typical EW trader but seems as creating of B in ABC corection.
I do NOT exclude bullish scenario but bearish is more likely and primary for me
Comment
It seems we might moving in this triangle next couple of hours. Keep eyes on it
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