Observing the gaps and buy/sell zones of BTC
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Time of truth is near for the bulls
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Respecting launch pad on the daily
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Note first that the bull support zone held perfectly. Also this "launch bad" I drew on another chart which you can also view above has held perfectly. Look at the candle touching the launch pad exactly. This is all just historic supports and resistances, nothing fancy.
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Looking at another chart where the resistance line has held true. The resistance in this chart coincided with our bounce charted out above:
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Watching for a bounce at 6800, if not there, launch pad at 6500
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Looks like the bulls want to play. I'm adding another long entry here.
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Ok so let's take a look at what is playing out. The bull/bear zones from my chart are holding true. The bulls felt inclined to defend the gap below. Also let's note that the bulls are defending against a larger corrective wave pattern as you can see from this chart below. Furthermore, they could be playing for a larger bullish wave pattern. But in general I don't like to get too distracted with the wave patterns as they are mostly speculative. What does hold true are the historic supports and resistances. Let's watch the red zones for pullback and the green zones for pumps. For those saying you never know what is going to happen, actually the historic supports and resistances give us some good statistical probability on our swing trades. So stop playing scared.
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Friends this is a moment of truth in my opinion. If we reject on this downward trend line, we will finish a large corrective pattern. If we push up off of it, we will test the next resistance. Whichever direction we go in the next 24 hours will define our next big impulse in the market.
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On Jan 8 we did a little shake-out and now above the psychological 8k level. We should see an impulse up if 8300 is broken, or perhaps more shakeout/ranging.
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8300 broke and there is the impulse as expected.
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8300 holding as support
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8300 held and another impulse expected. Most likely larger than the one before because it was a double-tap.
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Well, that's that. Next resistance is 9600
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So now we are watching the descending trend line above us. If we break it, especially with a retest, look to long the gap above!
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See the perfect pullback on the descending trendline? This chart has been like a crystal ball!
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It has respected the descending trendline. Expect a jump at 9680, 9000, or 8800. I suspect that jump will seek to test 11800
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I forgot to update this but I've been short since 7800. Up about 100 pips. 4250 is my target.
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Well that was fast. Closed 50% of my shorts. Waiting and watching
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Decision time is upon us. The next move will be drastic.
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Absolutely precise respect of the levels.
