This is part of my "backstage" series with draft studies trying to cover possibilities for the market. It is just me thinking out loud so this is not a recommendation and not even a signal trade. I am sharing so it can help others to think with me, you may use it to do your own studies.
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Zoom in on this idea, as this is the "ultimate" support for it to work:
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pattern broken and invalidated
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I would not rule out a come back even after the break down, if bulls manage to come back above the 0.786 curve:
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BTC is heading to test the all important 9.4K where the game can change again:
@elenchus1337, Thanks for your participation, for "hell" idea, there is:
schuck15
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I like what youre doing here. thinking out loud is great especially when considering both directions.
bitcoin
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@schuck15, Thanks for the support ! We have double tops and now double bottom ! So it's 50% 50% both sides ! The huge volume is red anyway !
schuck15
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@bitcoin, Yeah these are sideways times for btc. Just try to play the range. We'll see if we break below 8.7, that will tell me we are going lower. I'll probably exit part of my short before bed time for me