I may have to give up my hopes of 5.4k....
In my last post https://www.tradingview.com/chart/BTCUSD/77ef5nLA-8-5-as-anticipated-now-what-for-BTC/ I called for 8.6-8.8k. We hit our target, and then some. I hope you guys took at least some profits.
A) Was our 14k* top. At which point we created a beautiful Chuva Fork on the WEEKLY Chart (Pale Orange Dotted Lines from 14k % 12k). We proceeded to correct down to 6.4k.
B) 6.4k saw a beautiful bounce after clearing the stops from 6.5k, and we haven't looked back since...
C) We're now dipping our toes into a Bearish 3Day Block, so I expect at least a minor correction. A pullback into the Bullish block in yellow (around 8-8.2k) would be ideal, and quite healthy. That being said, we can certainly grind further into this block before correcting.
Ultimately, I think this leg up has some more fuel, and probabilistic-ally, I see us testing that Daily Bearish Block around 11.1k (currently UnTested). So long as we hold that Yellow Box & or Pitchfork, I remain Bullish, targeting said areas. Should we lose the Pitchfork, I'd be flat on all leveraged positions, only holding my Long-Term Spot.
As always, practice solid Risk Management, and good luck trading!
A) Was our 14k* top. At which point we created a beautiful Chuva Fork on the WEEKLY Chart (Pale Orange Dotted Lines from 14k % 12k). We proceeded to correct down to 6.4k.
B) 6.4k saw a beautiful bounce after clearing the stops from 6.5k, and we haven't looked back since...
C) We're now dipping our toes into a Bearish 3Day Block, so I expect at least a minor correction. A pullback into the Bullish block in yellow (around 8-8.2k) would be ideal, and quite healthy. That being said, we can certainly grind further into this block before correcting.
Ultimately, I think this leg up has some more fuel, and probabilistic-ally, I see us testing that Daily Bearish Block around 11.1k (currently UnTested). So long as we hold that Yellow Box & or Pitchfork, I remain Bullish, targeting said areas. Should we lose the Pitchfork, I'd be flat on all leveraged positions, only holding my Long-Term Spot.
As always, practice solid Risk Management, and good luck trading!
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