Looking for scalps short down to the 7200 area from here. 8400 would have been a more conservative area for it to reverse downward but this looks like it's starting the move back to the c. On the 1 hour ichimoku chart this forms a bearish pattern so I am watching for double top and squeeze type patterns for short to the green box area.
I will be very bullish once it's near 7200 and will expect the accumulation process to happen faster than the 40 or so days it took the last time it was there.
I will be very bullish once it's near 7200 and will expect the accumulation process to happen faster than the 40 or so days it took the last time it was there.
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I was able to catch a few small scalps on btc and bnb short today but nothing that was a runner since it's been chopping back against the 4 hour dump bar. Still looking for it to complete the larger impulse down to 7200 so am watching for confirmation that this upward movement will be an impulse that's inside the 4 hour bar and peaks near the order book seller wall near 8200. The current wave 3 leg is not complete and I might actually trade the expected 4 wave long.
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The 4 point was too low for this to be an impulse so I changed it to a choppy channel pattern. Plan is mainly still to short from the b region.
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Watching for 7800 where there is a buyer wall for the move to start back up to the b point, might scalp long here.
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Currently short BNB with a break even stop, scaled out 50% of original position by strangling the stop a little too tight. Is making a bearish diamond so I think it has a shot at hitting the bottom of the range. It's back and forth in the order book so I have doubts about whether I'll be able to stay in the position the whole way.
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Wondering if this is also a diamond on btc
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Trade still working now that I'm awake and it's looking like it was a diamond reversal so am still bearish on btc until 7200
