BTC 9/6 mid-day update... Signs of a very strong move SHORTly
Guys, I've updated the trading plan because we are now starting to make moves here...
I am STILL short biased at the moment (several reasons why, which I will explain below).
-If price continues to consolidate below the red box with heightened volume, this is a short position sign.
-The opposite is true if price jumps over resistance and start consolidating with heightened volume. That will prompt you to enter a long - that is a classic sign of accumulation.
If we look at the bigger picture in this chart on a 1hr timeframe here:
The move up weakness is obvious. We are consolidating on weak volume. 51k will have to be retested at the bare minimum. Right now there is no strength up here according to volume... This is the reason for my overall short bias here.
I am STILL short biased at the moment (several reasons why, which I will explain below).
-If price continues to consolidate below the red box with heightened volume, this is a short position sign.
-The opposite is true if price jumps over resistance and start consolidating with heightened volume. That will prompt you to enter a long - that is a classic sign of accumulation.
If we look at the bigger picture in this chart on a 1hr timeframe here:
The move up weakness is obvious. We are consolidating on weak volume. 51k will have to be retested at the bare minimum. Right now there is no strength up here according to volume... This is the reason for my overall short bias here.
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Oh you know..... Just told you when to short the piss out of BTC AT THE TOP... 10k fall the next day.
No big deal...
No big deal...
