PA very bullish with no pullbacks offered. fractal previously lead to blow off top. Expecting no pull back so will move SL to BE in next few hours. PA in prev months range already
PA back into monthly range. Invalidation back above monthly range.
prev week high now acting as resistance. shorting back into this prev weeks range.
PA looking more bullish and consolidating at support. If truly bullish it should resolve higher in the next few hours. Will cut it, if it stagnates or starts to breakdown. half risk
reclaim of SR, although its in mid range, but this is likely start of uptrend. target range high also coincides with fib 618 of move
consolidation above range + back into monthly range invalidation close back into weekly range and outside monthly, where i take bearish trade back to mid weekly range
reasons to short breakdown of trendline, mid range of prev week range bottom of prev month bearish MS on D invalidation reclaim of prev month range, 4H close back in.
PA took liquidity of range low, retested range low and now seeming bullish. Very good RR and defined area where idea is wrong (back below range). KISS (Keep It Simple, Stupid)
2 potential scenarios to play this. I'm leaning more on Scenario A and ready for any way this plays. #Bitcoin
an accumulation since 2015 with explosive price action expected in coming weeks. Expecting this new direction to be trending for months. Waiting for a weekly candle close outside the triangle to form a bias
bounce into liquidity on the upside followed by a short to range below 5500
Long into the $7000 liquidity pool then short to the high $5XXX's
If we bounce it would be here. If this breaks its anyone guess.
Previous rally retracement complete. Expecting to stay flat the coming few days followed by a rally towards 8800.
Short - fundamentally lots of deleveraging needs to be funded by selling assets with no income production including gold. Technically a retrace is now due.