no rate cuts but im still balling
we already tested that gap (rectangle) so a second attempt will probably close it.
that will throw us well below the year to date value range
so im looking at it as a potential bottom.
if this gap fails to hold im looking at the previous range for help and the previous value area high to turn support (classic what was once resistance is now support)
on the shorter timeframe i anticipate 5485 to act as support a small bounce can make it look like a head and shoulders pattern for the bearflag target if there's any bullish play
note this is not a trade i will take unless the data and reaction at the level will look bullish.
so make sure you know we can straight up nuke on monday. (eyes on BTC during this weekend)
anyone who saw my posts before i talked about how we need to rotate back to value thats exactly what happened.
previous range value area high was left untested, retesting it is quite the possibility. (theres a gap right above it )
we already tested that gap (rectangle) so a second attempt will probably close it.
that will throw us well below the year to date value range
so im looking at it as a potential bottom.
if this gap fails to hold im looking at the previous range for help and the previous value area high to turn support (classic what was once resistance is now support)
on the shorter timeframe i anticipate 5485 to act as support a small bounce can make it look like a head and shoulders pattern for the bearflag target if there's any bullish play
note this is not a trade i will take unless the data and reaction at the level will look bullish.
so make sure you know we can straight up nuke on monday. (eyes on BTC during this weekend)
anyone who saw my posts before i talked about how we need to rotate back to value thats exactly what happened.
previous range value area high was left untested, retesting it is quite the possibility. (theres a gap right above it )
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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.