- ๐จ I am NOT shorting Bitcoin.
- ๐ก This is for information purposes only.
- ๐ I will look to accumulate Bitcoin when it finds a bottom!
Head and Shoulders Reversal occurred at the Up Thrust After Distribution...
์ฝ๋ฉํธ:
The Cheat Code at Supply Zone:
Uptrend = HH + HL
Downtrend = LH + LL
Uptrend = HH + HL
Downtrend = LH + LL
์ฝ๋ฉํธ:
Wyckoff Distribution Fractal on 15 Min TF
๐จ Threat is to the downside...
...but last minute day trade flip
๐ก Risk to reward 1:2
๐จ Threat is to the downside...
...but last minute day trade flip
๐ก Risk to reward 1:2
์ฝ๋ฉํธ:
Short term trade posted above... expires in 2 hours. If your Stop Loss doesn't get hit... I'd take profits to be safe. Heavy resistance ahead.
์ฝ๋ฉํธ:
Stop Loss on quick, day trade flip, Long Position moved to break even at $7,320-ish
์ฝ๋ฉํธ:
Oh well, got stopped out at break even on my Long position. Looks like supply still overwhelms demand at the $7,400-ish price, Appears less likely there will be a last-minute Up Thrust Above Distribution (UTAD Test???)
์ฝ๋ฉํธ:
Volume spike failed to break above overhead resistance.... this is where you would short...
์ฝ๋ฉํธ:
My thought process is that... if the volume spike was unable to produce a Higher High... then supply is overwhelming demand no matter how many buyers and sellers are active. It's a Sign of Weakness.
(โ ๏ธ But please use a Stop Loss in case a whale goes nuts and price pumps.)
(โ ๏ธ But please use a Stop Loss in case a whale goes nuts and price pumps.)
์ฝ๋ฉํธ:
Just posted a new chart:
This appears to be a complex bearish correction at the top of a very nice rally up.
Everything in life expands and contracts
This appears to be a complex bearish correction at the top of a very nice rally up.
Everything in life expands and contracts
์ฝ๋ฉํธ:
๐จ Reminder:
Don't try to catch a "falling knife"!!!
Don't try to catch a "falling knife"!!!
๐ก Possible testing of Supply Zone at $7,400-ish?
Are sellers exhausted? ๐ซ
Or is there more supply to unload? ๐ค
Price making either making...
Higher Highs โ๏ธโ๏ธโ๏ธ = Bullish ๐
Lower Highs ๐๐๐ = Bearish ๐ป
This will give us clues at what the whales are plotting... ๐ณ
๐ A break above $8,150 and I will have to flip bullish! ๐