Keeping it short:
We have a slow descending wedge were everyone can feel we are not going to break to the downside any time quickly.
I have demonstrated the next micro level move including the correlation with the RSI supporting the thesis.
As for the Macro Level, I have a few scenarios in mind and maybe I'll post them when I have the time.
Note: At the macro level, if we break below the 0.382 fib level, then we can assume we will go down to the 8K range and fill in the CME future gap.
30 Min. chart
Overall view
Weekly chart
I do feel we will test the 20 EMA on the weekly
WHY?
Daily chart
We have a slow descending wedge were everyone can feel we are not going to break to the downside any time quickly.
I have demonstrated the next micro level move including the correlation with the RSI supporting the thesis.
As for the Macro Level, I have a few scenarios in mind and maybe I'll post them when I have the time.
Note: At the macro level, if we break below the 0.382 fib level, then we can assume we will go down to the 8K range and fill in the CME future gap.
30 Min. chart
Overall view
Weekly chart
I do feel we will test the 20 EMA on the weekly
WHY?
Daily chart
Note
Sometimes you hit luck. Would you believe it, on Binance, the bottom of this wick was my order filled, to the cent, 9953. I'm not saying all my orders were at this price but they did range in the 9900s. Note
Wedge more defined and 10K will be retestedNote
Whales just wrecked all the stop limits with this wick. I should have expected it.Note
Now it makes sense why the price keeps dropping... many made the mistake including me.Note
I don't believe it, but this is a fluke.Before
After
Note
Other confluences..The pitchfork channel fib.lines have been accurate most of the time.Trade closed: target reached
On the fist chart above, the RSI has ht hit the critical level which I indicated with the red region.Also note, how confluence is with the fib. pitchfork. Second chart, upward wedge, hitting resistance levels which have confluence with the fib.fan and pitchfork fib. channel. Hence the reason for selling.
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
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.
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
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.