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I guess the bulls didn't want to waste any time. Skipping the short trade and moving onto the first long trade. Target remains the same:
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Date range also remains the same, despite the big green candle.
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We've bottomed out. We'll have another jump, not has big as the last one, in about 2 hours.
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After the next jump is prime opportunity to take profits and reconfigure your positions for reentry, somewhere along the yellow price tags, when the price bottoms again:
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I've started a new Telegram group, if you like the kinds of updates I've provided above, please join the group. I'll keep the comments on my charts to a minimum from this point forward:
t.me/tradewithjpublic
t.me/tradewithjpublic
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Here's a favor for my friends on Bitmex trading on inadvisable amounts of leverage (yea you with the bar slid to 100x), watch for a quick dip down to about $6660
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We're making the jump to 7500 right now. There will be a correction afterwards.
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good luck :)
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the arrows might look crazy, straight up, straight down but we're about kick off bull season with some carnage:
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we're going to end up right back where we should have been this at around this time... around $6400
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If you're not so inclined on risky trades, price manipulation and bart simpson heads aren't going away anytime soon, we'll be riding up this channel until the 10k mark. I'll be posting intrim trades however, if this chart gets > 50 likes.
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The bulls have to keep this above 6475 to prevent this HS formation from completing. If they manage to do that as I expect them to, it may be through a show of force aka another big green candle stick. If not, then things get hairy, as we will most likely retest the 6000 support and at that level the direction of the market is anybody's guess. Currently though, with the higher lows being created the bias is towards the upside.
The bulls have to keep this above 6475 to prevent this HS formation from completing. If they manage to do that as I expect them to, it may be through a show of force aka another big green candle stick. If not, then things get hairy, as we will most likely retest the 6000 support and at that level the direction of the market is anybody's guess. Currently though, with the higher lows being created the bias is towards the upside.
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big pump commencing...
before:
before:
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It diverged away from my pattern at the same point as in the main chart above...
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which means bart simpson...
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What I expect the final push out of the triangle to look like:
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alternative: