Hold on to your hats Boys and Girls. It's about to get real interesting up in he-ya'. Small tracement before the big test. Should we confirm above the $11,773.00 The end is $40,000 by the New Year. Whoot!!, Whoot!! Lots of Bears got their Short Skirts on and are adding to positions from here to the $11,700 level........... To paraphrase one of Favorite Movies,...
I've got Limit orders in all the way from $133.95 down to the 50% FIB at $126.50.... Stop is close. Target is $156.00
It could happen. It will take brass balls to day trade the next month. Good thing I'm packin. ;-) That is the .618 Fib it bounces off of.
Could it be? The one thing I would like to see is the close to stay above the yellow down trend line. Set a stop on the RED dashed line. Up side could be the .618 FIB or 50% retrace, Around 470.$ or The High of 2018 if this is the bottom. Hard tellin, not knowin. Not Advice, You do what you do and I'll do what I do. Don't do what I do, I don't know WTF I'm doing.
LTC been holding that bottom for 36 hours. Time to Stack-em and Rack-em. Don't do what I do. You do what you do. I'm no advisor I don't know WTF I'm doing.
Starting to feel like this could be a trend reversal. Use your reversal FIB chart. Bouncing off the 236 like a hammer. This would mean the end of the previous wave 5 down was the second test of the February lows and it held. Making this the second test HOLDS and a retreat from the downtrend. I've seen a lot of people try and put the WXYZ into a 4th and 5th wave...
Not Advice, this is just me doing what I do. Short play here down to the bottom of the 5th wave. I'd set a stop at $7,243.00 It could be the bottom is at the end of the wave, but my earlier chart showed the bleeding to stop around $3,000.
In the short term BTC breaks below $6,000 February Low. Bounces at $5,000 area. Manipulation is all the talk right now. I can't speak to that, but the FIB levels are hitting right on. There is a bit of front running the FIBs here and there, but overall they have been telling the tale all along. Looks like we could see high $2,000s before the bleeding stops.
The end of both a Major C corrective Wave and a 5 Wave down trend, plus resistance from hell. If gets above 126.00 could be a long play here back to the .618 . I don't think the bleeding is done quite yet for the over all market.
Could be a nice short around the S7,190 out at $5,400 or so. Set your stop and $7,230.
My thinking is we break down again, but I hope I'm wrong. I got shorts in at $7,930 and $7,924.00
So I went short at $7,930.00 The otherside of the trade looks like a long at $7,654.10 and a sell at $7,955.12. I'll have a stop loss right at 7,594.00 Risk reward is 5:.05
Worth a shot a qucik trade anyway. A lot of support right there.