• sitting below all moving averages
• Sitting on the 0.61% range on the Fibonacci (direction test)
○ My Thought:
We are in an interesting position at this point. This is a make or break area. We are right on the Fibonacci's 0.61% level which is the make or break level for I personally would take the bearish side of this position. 42k is a previous strong resistence that would be come support if it holds. But this area is not an area of conviction for me you have a good amount of buyers back down between the 36k and 32k range. That is where I would like to buy in as a safer buy. Reason being is that the 44k area should have held and we saw a major rejection from that area. Its fair to say we could test the mid 30k range just to find some stability in this wild market before a retest of all time highs. Should we hold the current 42k range, test the 44k range and successfully keep that we could break 50k by next weekend. I would still like to see the rest of the buyers get picked up at the 36k to 32K range.
ETF: BITO
Overall: Bearish
Today: Neutral Bearish
• Sitting on the 0.61% range on the Fibonacci (direction test)
○ My Thought:
We are in an interesting position at this point. This is a make or break area. We are right on the Fibonacci's 0.61% level which is the make or break level for I personally would take the bearish side of this position. 42k is a previous strong resistence that would be come support if it holds. But this area is not an area of conviction for me you have a good amount of buyers back down between the 36k and 32k range. That is where I would like to buy in as a safer buy. Reason being is that the 44k area should have held and we saw a major rejection from that area. Its fair to say we could test the mid 30k range just to find some stability in this wild market before a retest of all time highs. Should we hold the current 42k range, test the 44k range and successfully keep that we could break 50k by next weekend. I would still like to see the rest of the buyers get picked up at the 36k to 32K range.
ETF: BITO
Overall: Bearish
Today: Neutral Bearish
Zlecenie aktywne:
After breaking previous support of $42k and tracing past many $38k stop-losses we see the second part of my trade strategy coming into fruition next stop is the targeted $36k-$32k
Komentarz:
@tradingview can I get editors pick?? I called this last week!!!!! lol
Zlecenie aktywne:
Partial short profit taken
Komentarz:
For those who cant tell. I am a bears fan. Green candles are orange and blue candles are red
Transakcja zamknięta: osiągnięto wyznaczony cel:
$34k hit