Bitcoin HOHOHO, let's see if we get a santa rally
As usual here's my intraday forcast. I'm expecting a consolidation day to shake out some fomo buyers, trap more bears and then give us a nice warm fuzzy christmas in the form of one last leg up. But get ready. I doubt this move will be sustained. Still expecting a big drop.
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That dropped. No santa just a hand full of coals. Did you think because it's christmas I wouldn't check bitcoin? =-) Bulls want to reclaim 4000. Bears looking for 3650-3500 Which are also the areas I'll be watching for price to reverse.
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And when I say reverse obviously I'm talking like a 2-5% scalp. If you can call a trade over the course of a day a scalp. Because this ship is sailing back in to the deep sea.
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The other day I was watching one of the analysts I greatly admire on youtube. He often points at the chart when he predicts his anticipated price action. That same gesture is what I do with arrows.
The magnet is where the arrow tells you it is. No further. No less. Just as when you point at the chart you can see the magnet. The magnet is often the point of balance and has the least tension. Once you find a magnet it becomes easier seeing the next ones and so on. (fun exercise: after you draw your arrows draw a fibonacci retracement on them. Amazing how often your drawings fall near the .618 level.)
Anyway here is my anticipated price action for the next couple days.
The magnet is where the arrow tells you it is. No further. No less. Just as when you point at the chart you can see the magnet. The magnet is often the point of balance and has the least tension. Once you find a magnet it becomes easier seeing the next ones and so on. (fun exercise: after you draw your arrows draw a fibonacci retracement on them. Amazing how often your drawings fall near the .618 level.)
Anyway here is my anticipated price action for the next couple days.
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