ridethepig

ridethepig | BTC Market Commentary 2020.10.20

Long
ridethepig Aggiornato   
BITMEX:XBTUSD.P   Bitcoin
đź“Ś Bitcoin - October 2020

Well done those still holding longs in what has been a rather slow but simple grind higher. Buyers could have developed quicker according to the flow models but we maintained flexibility.


Next comes the wave 3 target at $12,364. And buyers are not particularly favourable to break through without a retrace. The correct course is to take some profits and reload from cheaper levels. Rinse and repeat.

And now, I present the whole macro flow chart, because of the log-chart breakout it is a good example of how even strong hands and advanced players are frequently unable to understand the core strategy.


Thanks as usual for keeping the feedback coming đź‘Ť or đź‘Ž

Commento:
A quick update here as we approach the main targets on time for NY...

Trade chiuso: obiettivo raggiunto:
A helpful move from Paypal, well done those who caught the leg higher.

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