Obvious Problem
Zaktualizowano
It has become clear that the Decision Box 2 needs more development to instil confidence in it as a support to drive the price higher. Failure of this level would spell failure of what has been achieved and result in a double top. Money Man thinks that breaking through Decision Box 1 without some real volume could simply spell another retest of Decision Box 1 and preferably Decision Box 2 to get that assurance. Breaking through with volume seems less likely as moving towards it has been a bit light in volume already. But, the big but, if the price would make Decision Box 1 a big deal through repeated testing, this could be enough to get the traders trading. As things stand, there will be volume waiting for the breakout. That built up, through time spent doodling around below it after the first touch of the Decision Box 1 area would hopefully have been big enough, but this is Money Man’s main concern now.
Red Targets 1, 2, and 3 are all of note, but also their strength goes up, not only from the confluence they indicate, but also simply by the distance and the possible volume derived from that.
The obvious problem is that once the volume on the chart confirms the move, the move has progressed beyond what would be a great trade into an average one. Yet another chance to explain the importance of scaling in. Scaling in before allows a trader to access the situation, make an informed decision and then, if wrong, only sacrifice some profits.
Conclusion: Be careful of a break upwards without conviction, leading to a weak rising pattern (BTC is already partly in that position as the notable supports are much lower than the current action). Best case scenario would be a solidifying of Decision Box 1 and/or 2, over the weekend into some strong support for the sake of confidence. The BTC chart is spelling impatience, and this suggests a possible nasty breakdown, to at least stop out the longs, after a lure in because of a feeble break upwards (the definition of a fake out). Very important to me: Please leave a like if you appreciate to effort, please comment and develop this further and Please follow if you see this thread going somewhere you might like to know about.
Red Targets 1, 2, and 3 are all of note, but also their strength goes up, not only from the confluence they indicate, but also simply by the distance and the possible volume derived from that.
The obvious problem is that once the volume on the chart confirms the move, the move has progressed beyond what would be a great trade into an average one. Yet another chance to explain the importance of scaling in. Scaling in before allows a trader to access the situation, make an informed decision and then, if wrong, only sacrifice some profits.
Conclusion: Be careful of a break upwards without conviction, leading to a weak rising pattern (BTC is already partly in that position as the notable supports are much lower than the current action). Best case scenario would be a solidifying of Decision Box 1 and/or 2, over the weekend into some strong support for the sake of confidence. The BTC chart is spelling impatience, and this suggests a possible nasty breakdown, to at least stop out the longs, after a lure in because of a feeble break upwards (the definition of a fake out). Very important to me: Please leave a like if you appreciate to effort, please comment and develop this further and Please follow if you see this thread going somewhere you might like to know about.
Uwaga
Previous BTC contribution 
Uwaga
Volume says that this was not the climax move, but that this move down and back was simply adding to the bigger plot. A lot of distance covered on the chart with very little volume: we are waiting for something to happen. It is also clear that the boxes on the chart will need some minor adjusting. Money Man will do so soon.Uwaga
At the moment it looks as though BTC wants to make a block, from 18350 to 18680, it's base to launch a move from.Uwaga
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