Finally broke down from our third value, this one being a lot shorter and being more in line with continued downtrend.
HOWEVER, these price are levels that I've been eyeing for weeks if not months, and with global stocks being in meltdown I see mostly a lot of panic and reason to start nibbling some longs. Buy the blood, right?
First attempt will be around 74k. It was the first range high after breaking up in 2024, finally filling the imbalance and retesting value from above. Hope I can get filled on another push down, otherwise I'll look for ltf entry to chase it.
Since it's a downtrend, defining my risk at the first HVN in the 2024 range. I want to give it a bit of room, but might have to cut manually if we keep on grinding down. A fast wick would be okay.
If we accept back below 70k VAH (multiple daily closes or downtrending ltf price action), there is a possible rotation to 60k VAL.
Like I said, longing here is still countertrend, but prices feel attractive again for the first time in a while. Finding a balance between that is hard, but I'll take a shot here.
HOWEVER, these price are levels that I've been eyeing for weeks if not months, and with global stocks being in meltdown I see mostly a lot of panic and reason to start nibbling some longs. Buy the blood, right?
First attempt will be around 74k. It was the first range high after breaking up in 2024, finally filling the imbalance and retesting value from above. Hope I can get filled on another push down, otherwise I'll look for ltf entry to chase it.
Since it's a downtrend, defining my risk at the first HVN in the 2024 range. I want to give it a bit of room, but might have to cut manually if we keep on grinding down. A fast wick would be okay.
If we accept back below 70k VAH (multiple daily closes or downtrending ltf price action), there is a possible rotation to 60k VAL.
Like I said, longing here is still countertrend, but prices feel attractive again for the first time in a while. Finding a balance between that is hard, but I'll take a shot here.
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Tealstreet.io Trade Faster & Trade Easier
Content in partnership with:
twitter.com/mooncakexbt
twitter.com/huskyXBT
Content in partnership with:
twitter.com/mooncakexbt
twitter.com/huskyXBT
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.