BTCUSD: Sell into Strength BTC was bid up nicely but lost the momentum with a shift to a risk-off attitude in the overall markets. Following this pump and witnessing the second bearish daily candle, it seems the best approach is to fade this recent bullish action and look for targets in the previous lows.
The risk profile highlighted in the chart has a 5R return , and the covered risk through the stop loss range is optimized to the structure of the current BTCUSD market.
Trade with care, remain solvent and, above all else, try to stay healthy.
Fibstalker
Long Term Active Bearish Algo TargetActive bearish algo target pointing all the way down to 2100 . I think these pivots are very likely in use by many algos because of the reactions we got multiple times at the .236 (none of the other pulls from other pivots before the drop below 6K have any fib lines that line up in that 4140-4150 resistance area). We also got a pretty strong reaction so far at the 0.5 (multiple rejections). This algo pattern is based on assuming algo's will buy at the 0.5, defend to the 0.618, and flip or stop out at the 0.65 (other side of the golden pocket). Do the bulls have one more push up to get over 5930? I kind of doubt it, but you never know. I will be a big seller at 5790.
(NOT A FINANCIAL ADVISER, THIS IS NOT FINANCIAL ADVICE)