Here is a pretty solid picture of the options I see for BTC on the macro scale
Average distribution range on btc has been 25%
Option A
When price dumped on 12/10 we were 50% of the way into the range above. If we brake below this range and retest a down trend will likely ensue ensue.
Option B
IF the 12/10 wick holds I see either a retest of the current high or the projected high 48-52k
(My personal favorite...)
Option C
Option C is much worse where we put in a lower high on this current push back up from the 12/10 wick and trend down below 31500-32k area with a retest of 32 from below and put in a lower low....
Current Trading Plan
Still targeting 48k or a real brake of structure as in the macro trend and support resistance flips.
If we do push up to 50k area and range as we have numerous times alts may make their last run to rally high. If btc puts in a lower high Alts are probably toast already
Average distribution range on btc has been 25%
Option A
When price dumped on 12/10 we were 50% of the way into the range above. If we brake below this range and retest a down trend will likely ensue ensue.
Option B
IF the 12/10 wick holds I see either a retest of the current high or the projected high 48-52k
(My personal favorite...)
Option C
Option C is much worse where we put in a lower high on this current push back up from the 12/10 wick and trend down below 31500-32k area with a retest of 32 from below and put in a lower low....
Current Trading Plan
Still targeting 48k or a real brake of structure as in the macro trend and support resistance flips.
If we do push up to 50k area and range as we have numerous times alts may make their last run to rally high. If btc puts in a lower high Alts are probably toast already
