IM BACK >=D BTC PREPARING FOR THE NEXT MOVE

Bearish:

• Volatility decreasing
  
• Volume decreasing
  
• Daily Stoch RSI @ 100
  
• Red monthly candle (but it has not closed)
  
• At the upper 12H BB
  
• This looks like Wave B of a corrective ABC wave (please correct me if I am wrong, I am a noob with EW!)
  

Bullish:

• Green weekly close
  
• Shorts closing, longs opening
  

Signs of big move:

• Very tight 12H candles
  
• Approaching equilibrium of shorts/longs
  
• Confluence of major daily MAs
  

Overall:

• If we enter a position, we are gambling. Looking to play the breakout/breakdown OR hedging heavily with a decent stop.
  
• ST long entry: 6900 with a target around 7170/7200
  
• ST short entry: 6550 with a target around 6200/6150
  
• LT: leaning short
  

Daily analysis:

Previous analysis (click to open chart and view outcome):

*edited red line

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What did I say? ;)

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Sorry for the late update!

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