BTC Time to take a breather

BITSTAMP:BTCUSD   Bitcoin / Dollar
Consolodation Period to come.

To Know what is to come it is prudent to refer to the past.

Last time we made a big pull back after making a new all time high we needed to consolodated before we could make new highs. This is not unusual and was expected if you refer to my origional commentary. This usually comes about due to double top callers. I personally think that double tops are a fallacy more times than not because if DTs were a real thing, then we would never make new highs.

I am confident that we will break all time highs within 10 days and will comfortably meet our TP3 to complete this $1200 trade.

I look to reload my positions as previously stated $4600 will likely be the lowest point of entry.

Congrats if youve come this far please feel free to refer to the origional idea linked below.

Please continue to manage your own Risk and reward.


Kommentar: We are approaching previous levels of resistance - it will be interesting to see what will occur here. if you arent long right now i wouldnt recommend going long, but consider it if we make a break for it.
Kommentar: Well, we broke out. Hope you enjoyed the ride.

Ähnliche Ideen

filbfilb CONGRATS! :) Your chart is working :)
filbfilb DZielinski
@asterix1, Thanks its not often i feel like champagne at 9am but today, lunch will be with champagne :)
Hi filb, we are also in huge SUPPLY Area 4900-4990 , move can be strong in both sides...
filbfilb DZielinski
@asterix1, agree it may take some time to break. im waiting for profits from the initial breakout.

filbfilb DZielinski
@asterix1, This is what happened last time
Short Term Possible break out

+1 Antworten
Nice one, Flibbr
Thx for your ideas.
Hi, So today we will first go down and than go up to TP3?

@IvHer, This consolidation may take several days to reconcile.. i of corse cant see the future but i would predict a pull back to the 4600- 4700 range at some point in the next few days.
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