70% over 50 days vs. 98% over 14 days. BTC proves again the most profitable trade is longing the ote 1.05% over shorting the ote 1.05% .
Keeping this simple. BTC is still above the cloud and support at 9.5k. My count suggest this pullback is wave 4/5. One more wave upwards will push us towards 12.5k - 13k.
OBV has pulled back to the 0.382 fib, showing selling is limited and ready to support a move upwards.
Happy trading.
Commento
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BB support and horizontal support. Perfect area for bounce!
Commento
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16% bounce. Long closed....re-entry on pullback. Hoping for ~10.2...then 13k inc
Commento
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Inverse H&S on 4hr RSI. Seems like fractals 1&2 are done in wave 5, and now it's time for impulse fractal 3 to take us out of 10xxx
Commento
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Using wave 3 as a reference (~8k to ~11.7k) -if we apply fib-based price range to wave 5, we are destined for ~$13-13.5k, where a strong supply area is located. The breakup of a rising wedge will hibernate a lot of bears, making a fairly quick move
@HuynhLoc, maybe! I would like to see a break of 10-10.5k Another H&S pattern looks to be in the works.
HuynhLoc
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@cajimbi are you sure?
I will buy all money for BTC now? target 12.5k ?
jimo79
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@HuynhLoc, if you want certainty wait till it breaks out of the upper channel, but if you wait you won't get as much profit but you cover yourself from a loss if its sinks from here
HuynhLoc
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@cajimbi BTC go up quickly ? target now? Please update
kjmb1
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BB support and horizontal support. Perfect area for bounce!
TulpenFieber
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I had the exact idea yesterday, but looks like we are moving lower. What are your thoughts at the moment?
kjmb1
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@TulpenFieber, scaling into by increasing long on every dip. confident of a decent bounce round this area :)
TulpenFieber
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@cajimbi, fingers crossed.. somehow got this feeling ever since CME Futures launched, TA has become quite handicapped..