Trading Bitcoin - Tame the beast & Manage your emotions.

Despite Bitcoin going ballistic, it does not mean we cannot approach this market with a calculated approach and avoid any panic.

We have some clear objectives and targets as discussed on the chart.

No need to panic here, develop an intermediate plan and stick to it to avoid panic.

Let me know what you think will happen next.

Follow on twitter etc for more updates.

Good luck

filb

Kommentar:

So a wild day yesterday.. i was actually out and about last night so was limited to a few trades on my phone so couldnt really commentate, but anyway ive updated my chart. The AB=CD did not play out in its entirity, or really hit previous resistance, there was alot of buying interest in the lower 9ks which i coudl see wasnt going to be taken out. The issue not is that BTC is up against this diag resistance, which also means consolidating below the previous S/R at 11.5k and this will be tough to get across.

i suspect that the nex thing that happens is btc will fall back to the weekly open

im effectively hedged across the board and have a small short position which i will close if we can find new highs.

the weekly at around 10800 will be the target. Althoguh the close yesterday was great, really i want to see a close today above 11800 to prove that btc is bullish.

its clearer on a daily chart.. it will look weak if we cant complete the bottomoing pattern. Althoguh do note that the OBV is looking good as we currently stand.. In summary, we are in limbo right now - its a coin toss with a downward leaning bear..

to be honest it reminds me alot of 2018 price action. so i hope we get out of this pattern quickly.

Kommentar:

Fractal narrative