As expected in the last post Btc we saw continued sell off and Btc broke down from H1 range.
Looking at H4 we now a have a bearish retest of the small base above (horiz line) with continued downside expectation from both Better SCMR and BB Bot. Also notice the squeeze of the Bollinger Bands preceeding this move. There is no reason to fully close this short at the moment, just lower stop loss to trail price action.
For any serious short squeeze/reversal attempt to the upside I would want BB Bot to put in at least one long (up arrow) signal on this timeframe. I would use Better SCMR to filter out any false positives.
For now this looks like we test lower parameter of high time frame range (abt 8.7k) and a break of that would likely send us down to find demand much lower. The liquidity gap down to 7.7k is realistic if that happens, this is where a lot of longs will puke and market sell into long limit orders.
In any event I trust BB Bot to give the signal on this timeframe once it bottoms out and builds a new base. A reversal will come with this and confluence by reversal candle (RU) from Better SCMR.
Looking at H4 we now a have a bearish retest of the small base above (horiz line) with continued downside expectation from both Better SCMR and BB Bot. Also notice the squeeze of the Bollinger Bands preceeding this move. There is no reason to fully close this short at the moment, just lower stop loss to trail price action.
For any serious short squeeze/reversal attempt to the upside I would want BB Bot to put in at least one long (up arrow) signal on this timeframe. I would use Better SCMR to filter out any false positives.
For now this looks like we test lower parameter of high time frame range (abt 8.7k) and a break of that would likely send us down to find demand much lower. The liquidity gap down to 7.7k is realistic if that happens, this is where a lot of longs will puke and market sell into long limit orders.
In any event I trust BB Bot to give the signal on this timeframe once it bottoms out and builds a new base. A reversal will come with this and confluence by reversal candle (RU) from Better SCMR.
Сделка закрыта: достигнута стоп-лосс цена:
Closed out the short as the H4 SCMR reversal candel came up together with a long signal on BB Bot H4.
BB Bot is now giving long signal also on H12 and daily which indicates we are in for at least a good bounce.
BB Bot is now giving long signal also on H12 and daily which indicates we are in for at least a good bounce.
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Stop in this case = trailing stop on abt 30% of the initial position
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