Here's a scenario I can see unfolding in the next couple of weeks/months on BTC.
Basically ranging but clear bull bias to the upside. With a liquidity play on LONG bias traders in the 2 red boxes.
Ultimately I think from the lower level it will recover quickly but is the last shake retail weak traders out who went long in those red box ranges.
If this unfolds I'll be buying on the way down as usual. And if you are in my group you know I already have positions at this bottom. I won't be exiting those at normal take profit levels. Looking for 8-10K by the end of year possibly.
Of course should go without saying this could be completely wrong and I will change my outlook as the market slaps me in the face.
Basically ranging but clear bull bias to the upside. With a liquidity play on LONG bias traders in the 2 red boxes.
Ultimately I think from the lower level it will recover quickly but is the last shake retail weak traders out who went long in those red box ranges.
If this unfolds I'll be buying on the way down as usual. And if you are in my group you know I already have positions at this bottom. I won't be exiting those at normal take profit levels. Looking for 8-10K by the end of year possibly.
Of course should go without saying this could be completely wrong and I will change my outlook as the market slaps me in the face.
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