Bear market, lots of shorts were knocked out today....setting the tone here. Which are you? Long or short right now?
I caution leveraged positions at the moment. We are at an extremely dangerous place. Bullish move today, but who did not expect it at some point? Targets to the upside can blow past 2k. This 1500 range could be the top of our relief rally but I doubt it. I can argue a continuation of our breakout, temporarily.. We have seen almost 4 waves post today on quicker candlesticks. The 5th could be the shocker..
My stance is overall bearish periodically NUETRAL, with benefits... Take some profits if your up. I do not think ETH it will fall past 650.00 but we will see. Eth really brings it doesn't it? What's your take on this move ? Let me know!
These Fibonacci Channels are much like other Fib tools, like retracement and extensions. Just anchor them onto two swing lows and a high if measuring bullish movement and inverse that to 2 highs and a low if expecting a bearish movement to manifest. Fib tools are powerful and when combined with an Elliot Analysis can be downright dynamite!
Ask me more if you need to!
I caution leveraged positions at the moment. We are at an extremely dangerous place. Bullish move today, but who did not expect it at some point? Targets to the upside can blow past 2k. This 1500 range could be the top of our relief rally but I doubt it. I can argue a continuation of our breakout, temporarily.. We have seen almost 4 waves post today on quicker candlesticks. The 5th could be the shocker..
My stance is overall bearish periodically NUETRAL, with benefits... Take some profits if your up. I do not think ETH it will fall past 650.00 but we will see. Eth really brings it doesn't it? What's your take on this move ? Let me know!
These Fibonacci Channels are much like other Fib tools, like retracement and extensions. Just anchor them onto two swing lows and a high if measuring bullish movement and inverse that to 2 highs and a low if expecting a bearish movement to manifest. Fib tools are powerful and when combined with an Elliot Analysis can be downright dynamite!
Ask me more if you need to!