BTC (Y20.P3.E28).Action plan
Updated
Hi All,
BTC as it did the squeeze, wicked up and down with volatility and the ALTs basically slipped back to a known support.
Currently many of the Alts have touched their support targets with a wick.
How they are going to do from this point is spend some time establishing each ones specific support level.
I think for KAVA, SOL and LEND, the ones I'm focused on mainly with a few on the side, will move sides for the most in a range between the point they dropped from and bounced.
Some will move very quickly, eg LEND. Historically LINK but that's over extended.
What I can't anticipate is the speed of the price action of BTC, either dropping back to 12K or doing another tight range consolidation for another level up.
So better sit patiently and see how it pans out (while that happens, I need to go to sleep).
For now, I have these two targets based on previous support or resistance and\or applied price targets based on the structure variables of this episode of consolidation.
As you can see, I have 2 targets which may be the top or a big sell forcing a ABC correction.
I still feel 13750 ish is the target based on the weekly RSI but I cannot over look these 2 targets first and how the indicators reflect on these respective targets, assuming we go higher.
Could be time to buy the ALTS.
Cheers,
S.Sari
BTC as it did the squeeze, wicked up and down with volatility and the ALTs basically slipped back to a known support.
Currently many of the Alts have touched their support targets with a wick.
How they are going to do from this point is spend some time establishing each ones specific support level.
I think for KAVA, SOL and LEND, the ones I'm focused on mainly with a few on the side, will move sides for the most in a range between the point they dropped from and bounced.
Some will move very quickly, eg LEND. Historically LINK but that's over extended.
What I can't anticipate is the speed of the price action of BTC, either dropping back to 12K or doing another tight range consolidation for another level up.
So better sit patiently and see how it pans out (while that happens, I need to go to sleep).
For now, I have these two targets based on previous support or resistance and\or applied price targets based on the structure variables of this episode of consolidation.
As you can see, I have 2 targets which may be the top or a big sell forcing a ABC correction.
I still feel 13750 ish is the target based on the weekly RSI but I cannot over look these 2 targets first and how the indicators reflect on these respective targets, assuming we go higher.
Could be time to buy the ALTS.
Cheers,
S.Sari
Note
Note
I hope people understand the thing I talked about BTC dominance. It really makes a difference in terms of when to flip to compound your actions. I have reduced my Alts once I saw the KAVA\LINK\SOL etc top out, when BTC jumped up. Knowing that the ALTs are over extended and that BTC dom will go higher, it makes sense. Even ETH I flipped all to BTC (also took a 1/4 profits) to lay the odds in my favour.Now I'll pick and choose which ones have the right levels as per my posts.
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.