БиткоинДлинная
$BTC Bitcoin Rejecting at the 1.13?
Обновлено
It looks like we are trying to put in a bottom at one of our targeted zones, at least for now. Not much of a bottom fisher myself, but this would be the .886 retracement of the entire move here, and the 1.13 extension of the shark. This is also confluent with the 1.618 extension on this most recent ABC corrective wave down inside of the larger impulsive 1.113 bearish drive to the liquidity pools left at our lows. We have went over this in a few of my recent Bitcoin updates. Imbalances will always be revisited. Its not about the bearish break down but the reaction and follow through and it is very important to get rejected here.
Im in no means calling a bottom, just pointing out there is a reasonable expectation of a reversal back up after this move or one of our other local bottom targets. Clearly this is not just natural ebbs and flows as we have seen more sell volume here than we did on the move down from 51. I think its a liquidity grab taking advantage of volume being low on this particular session. Ill still be looking at some of our targets under this area incase we do get another attempt at the lows.
This is very risky, but using proper risk management, position sizing and stop losses, im able to control my losses and potentially see a larger return comparable to my risk threshold. Worth noting, all positions i take at levels like this with no real confirmation are minimal and controlled. Fishing for bottoms and tops is not easy to do, whereas a DCA strategy or laddered limit buys could be easier on the heart and trading account.
This would make for a great reversal zone for the NY open in the morning and itll really set the tone for whats to come going into the weekend.
Im in no means calling a bottom, just pointing out there is a reasonable expectation of a reversal back up after this move or one of our other local bottom targets. Clearly this is not just natural ebbs and flows as we have seen more sell volume here than we did on the move down from 51. I think its a liquidity grab taking advantage of volume being low on this particular session. Ill still be looking at some of our targets under this area incase we do get another attempt at the lows.
This is very risky, but using proper risk management, position sizing and stop losses, im able to control my losses and potentially see a larger return comparable to my risk threshold. Worth noting, all positions i take at levels like this with no real confirmation are minimal and controlled. Fishing for bottoms and tops is not easy to do, whereas a DCA strategy or laddered limit buys could be easier on the heart and trading account.
This would make for a great reversal zone for the NY open in the morning and itll really set the tone for whats to come going into the weekend.
Заметка
Reclaiming 35,700 is important on the lower time frames, and a revisit and rejection would be a very bearish signal that we may see a continuation lower as the rejection would imply an area that short sellers are building positions with substantial overhead supply.
Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.