Price has broken kill-zone that consists of triple top and double top. So I expect stepping up swing movement on 15m chart. This is a good time to draw action-reaction set. It captures previous price movements wonderfully.
And we have nice risk/reward entry if we place our stop behind this kill-zone
AVA lazily broke trendline and started to move sideways. Now we have a good down sloping confirmed Action-Reaction set. We can have a short position with rather tight stop
It is a good time to take a short from an action line of current down sloping action-reaction set.
Also we are slowly breaking under resistance levels.
We have made new local low, so the slope of active action-reaction set is chosen a little more more aggressively. He have tested our action line and retested it - price is bouncing so we are entering position with tight stop and good RR
The slope of up-sloping action-reaction set has changed. We are retrying to enter long after previously being washed, now the slope has more confirmations. RR is 1:3.25, but entry limit order should be continuously moving up while time goes by and up-slopping line is taking price higher
Last swing low of local uptrend movement is broken. We have a strong downward impulse.
Here is a low-risk entry from action line of current down slopping action-reaction set.
With stop placed behind recent swing high we have RR = 1:3
Here is a nice slope for long entries found on ETHUSD. For current Action-Reaction set we have median line waiting for nice "wash and rinse" off last 2 points of up-stepping buyers. These last 2 bounces is a nice bait to attract small buyers and collect their stops after that.
Bitcoin continues swinging down with not soo steep slope. There's a high probability of another bounce from the area of action line (marked blue) that corresponds to upper down sloping range edge
Price is swinging down. We have down sloping action line aka median line. At least minor correction is expected in "free flow" area at least till nearest strong level where buyers are expected to step in
We have strong bearish context after 100k was almost met on falling volume.
Now we have strong confirmation when price bounced from 3rd waring line of a downsloping Pitchfork and in the same time zoomed and retested Reaction line from upsloping Action-Reaction set. These bounces were not 100% accurate but left a gap instead, that is even more bearish.
Stop is...
Price level where BITCOIN is highly probable to stop upward movement (at least temporarily) is $111.2k according to my proprietary "Linear Center" technique. Given some loft for entry and stop according to similar situations in my history
Climax selling was caught by a set of different tools, esoteric by nature, yet all shows the same:
Ellipses, Gann Fan, Fibo Time Projections.
Stop above spike in order to avoid slippage, target is on Schiff Median line implying return to balance.
High risk, yet high risk/reward ratio, trade at your own risk.
