Last week's Expected Move was $47, this week contracted and is only $40.
Last week's price action was an excellent example of why I use these two tools in concert with each other.
Starting off the week we sprinted down and traded into the lower Gravity Point, just above the lower $47 Expected Move. Almost on the button we turned around and ran up to the next Gravity Point, consolidated there for a day, before finally running up to tag the Upper $47 Expected Move twice.
I've refrained from making a Long/Short call for a few weeks here and I think the odds are favorable on the short side coming into this next week. That is under the condition that we trade up to the $2731 Gravity Point because technically speaking the bull momentum is still strong and we're still trading inside of the Blue Channel. However, I think the R/R is significant for a bearish position. The 200 Day Moving Average is also roughly right where the $2731 Gravity Point is.
Goodluck next week Gentlemen.
- RH
Last week's price action was an excellent example of why I use these two tools in concert with each other.
Starting off the week we sprinted down and traded into the lower Gravity Point, just above the lower $47 Expected Move. Almost on the button we turned around and ran up to the next Gravity Point, consolidated there for a day, before finally running up to tag the Upper $47 Expected Move twice.
I've refrained from making a Long/Short call for a few weeks here and I think the odds are favorable on the short side coming into this next week. That is under the condition that we trade up to the $2731 Gravity Point because technically speaking the bull momentum is still strong and we're still trading inside of the Blue Channel. However, I think the R/R is significant for a bearish position. The 200 Day Moving Average is also roughly right where the $2731 Gravity Point is.
Goodluck next week Gentlemen.
- RH
Uwaga
Last Week's Post
Uwaga
Update:We've hit my $2,731 Gravity Point.
Uwaga
This is just beautiful. Bulls & Bears battling here right on $2,731Uwaga
This should be getting more views than your run-of-the mill Bitcoin public post.. but my 100-200 views vs. the 5,000-10,000 numbers don't lie. Either way it's been a very good week. Hope you all did well.
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