Will bitcoin price action tap a little lower? Fundamentals point there could be more retail slaughtering. Why are the big boys still buying? ...because it's not over!
Let's see what happens with the headliners today after an optimistic July closing.
If we continue this short term trend down, these are areas to add more long positions IMO. ~20% re-tracement from this recent bullish rally is predicted due to the similarities of market structure. If we retrace to the zones above, look for bullish price action this week and next week. Fundamentally there is still a lot of reason for Bitcoin to move higher in...
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BTC likes to make technical moves that anyone can see "coming" How will you trade these pivotal zones? It would be nice to break the stock market correlations as a risk on.
Fake Bottom, Looking for downside in the next 2 quarters.
Spots to watch. Areas I like to see interaction with before moving further down. Haven't seen these areas (high TF) since last year at this time.
Monthly bullish trend is being tested.
Simple technique measuring moves and wave lengths.
CADJPY could be finding a new range soon. I have a position in some drawdown. It took the lows, looking for for a push up and continue down. Caught a sell down off the institutional setup this morning. Now buying back up to fill the imbalance that lines up with the fib zones plus using measured moves to add some market structure confirmation for a good target area(s).
Possible double top fake out, if it continues up that is ok, I am risking a small %!
My zones I would like to see for a buy back, selling looks nice right now!
Failure to make a new high, further confirmations with measured moves, fib zones and lower high created, looking to see it continue down. Reversal could be in the works also.
Already reacting off of the 618 zone... looking for an optimal buy at lower area of price range. A lot of $ stored below to make a low then make it's move up to mitigate previous open orders.