In my last post, I said "wait" - don't trade this until we have confirmation above 10,500. Did it come. Hell no! However I did say look for $8800 as support and a rebuy zone. So long as this holds, we will make our way back up to $9600. I just loaded up and plan to sell around $9500 or so. Should it putter... because it loves to putter, I will rebuy if and when it reaches above $10,500.
The chart here indicates a bearish ABCDE. I say bearish because thats all we know until the greater trend says different. Expect for Bitcoin to make its way back up to those 9k resistance zones and then make a decision on what it wants to do with its life. Should it break bullish, keep a steady hand till it's clear that a new uptrend has been established.
This is not finical advice, just my opinion on how I plan to handle my trading stack.
The chart here indicates a bearish ABCDE. I say bearish because thats all we know until the greater trend says different. Expect for Bitcoin to make its way back up to those 9k resistance zones and then make a decision on what it wants to do with its life. Should it break bullish, keep a steady hand till it's clear that a new uptrend has been established.
This is not finical advice, just my opinion on how I plan to handle my trading stack.
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The bullish side is this could be an ascending triangle and breakout on D. Should it putter, you know what to do.
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With some twist and turns, my profit target has been reached. I laddered three exit positions the top most being 9650. The interwebs is a blaze with this call, I admit its pretty obvious. So let's see if the next two to make it.
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A nice break out on the D heading north. I am not getting too excited, going to wait until we have clear confirmation above $10500.