Bitcoin, open targets ahead !
Aggiornato
Congrats to those who took this position, I am looking at a very obvious zone below us in the mid 7k zone, however, I am not looking for the end of this move yet.
Most traders are looking for uptrend continuation and have filed this as a correction, I am not, my eye is drawn to the lower reaches of where this trend originated and have the 5800 zone as a point of interest and will be watching closely for any reactions in the grey boxed zones on my chart.
(IF) my lower target is hit, I am confident we will see 100% retracement of price back to its beginning and further downside movement.
I believe we will get a technical reaction in the grey zones, although I do not see them lasting very long and will continue to hold my short position, trailing stops recommended for the remainder of this trade.
Good luck and enjoy !!
Most traders are looking for uptrend continuation and have filed this as a correction, I am not, my eye is drawn to the lower reaches of where this trend originated and have the 5800 zone as a point of interest and will be watching closely for any reactions in the grey boxed zones on my chart.
(IF) my lower target is hit, I am confident we will see 100% retracement of price back to its beginning and further downside movement.
I believe we will get a technical reaction in the grey zones, although I do not see them lasting very long and will continue to hold my short position, trailing stops recommended for the remainder of this trade.
Good luck and enjoy !!
Nota
BEWARE of buy the dip fomo, i don't classify the areas which most traders are targeting for reversal/continuation as strong support areas and therefore will not be attempting to buy a reversal/continuation until it is confirmed across multiple timeframes with multiple signals.Highly leveraged margin traders BUY @ your own peril !
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