ridethepig | Transferring the attack
Being overly defensive is not an act of religious charity, rather a strategic advantage to flow from the demand zone that we established with the Bakkt Floor. There is only one exceptional case in which a weak swing has any justifiable claim to be over-protected, that is when it is being nursed through the function of a growing giant.
For example:
The base of the swing was formed live here when we traded the overprotection. With this we said farewell to sellers and presented another sad case of "the last offer".
Here after the break we are no longer required to talk so much about the technicals. BTC is benefiting from the risk-off sentiment and after trading above $9,500 earlier in the week the Crypto board is turning to the next chapter. A little higher this morning as more risk comes off. Remember BTC also has the fundamental driver via halving entering back into play which I would expect to continue finding demand on dips towards $9,000, while also keeping a close eye on the $10,000 window where we find some further profit taking.
The flows remain towards: $13,500 => $16,000 => $33,000
It always boils down to the same situation; a complex swing which may look sound, but has one stick opponent. According to the technical rules, the damage was already done on the break.
I will continue to trade the buy side for now and actively looking to add longs on the day in BTC, LTC, EOS and other major Cryptos. If we get enough interest we can start to open up the faster intraday flows for Cryptos on Hourly and H4 charts.
As usual thanks all for keeping the support coming with likes and comments!
For example:
The base of the swing was formed live here when we traded the overprotection. With this we said farewell to sellers and presented another sad case of "the last offer".
Here after the break we are no longer required to talk so much about the technicals. BTC is benefiting from the risk-off sentiment and after trading above $9,500 earlier in the week the Crypto board is turning to the next chapter. A little higher this morning as more risk comes off. Remember BTC also has the fundamental driver via halving entering back into play which I would expect to continue finding demand on dips towards $9,000, while also keeping a close eye on the $10,000 window where we find some further profit taking.
The flows remain towards: $13,500 => $16,000 => $33,000
It always boils down to the same situation; a complex swing which may look sound, but has one stick opponent. According to the technical rules, the damage was already done on the break.
I will continue to trade the buy side for now and actively looking to add longs on the day in BTC, LTC, EOS and other major Cryptos. If we get enough interest we can start to open up the faster intraday flows for Cryptos on Hourly and H4 charts.
As usual thanks all for keeping the support coming with likes and comments!
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