ridethepig | BTC Market Commentary 2020.10.20
Updated
📌 Bitcoin - October 2020
Well done those still holding longs in what has been a rather slow but simple grind higher. Buyers could have developed quicker according to the flow models but we maintained flexibility.
Next comes the wave 3 target at $12,364. And buyers are not particularly favourable to break through without a retrace. The correct course is to take some profits and reload from cheaper levels. Rinse and repeat.
And now, I present the whole macro flow chart, because of the log-chart breakout it is a good example of how even strong hands and advanced players are frequently unable to understand the core strategy.
Thanks as usual for keeping the feedback coming 👍 or 👎
Well done those still holding longs in what has been a rather slow but simple grind higher. Buyers could have developed quicker according to the flow models but we maintained flexibility.
Next comes the wave 3 target at $12,364. And buyers are not particularly favourable to break through without a retrace. The correct course is to take some profits and reload from cheaper levels. Rinse and repeat.
And now, I present the whole macro flow chart, because of the log-chart breakout it is a good example of how even strong hands and advanced players are frequently unable to understand the core strategy.
Thanks as usual for keeping the feedback coming 👍 or 👎
Note
A quick update here as we approach the main targets on time for NY...Trade closed: target reached
A helpful move from Paypal, well done those who caught the leg higher.
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