[BTC] What now?, 24.2.18
Hi All, Crypto sludge here.
BTC have continued to stay inside my no trade zone 9500$-10500$ area most of the day, starting with that big 1k$ dip in the morning to 9505$ missing my stop loss by 5$! :D
As i said, until BTC doesn't get out of this zone, i don't do much. And just as I sat down to write this post, it broke the 9500 after forming a triple bottom which is usually a reversal sign, talk about karma :)
So what now?
I am actually looking a play of a big inverse head and shoulders pattern, we are currently in the downtrend of the right shoulder, and with how important fib levels were so far, i am aiming at ~8800$ area (the 0.5fib level) as the bottom of this move and a reversal point.
Once we hit that, i think it will be a good place for a re-entry unless something else happens, i will continue to update you all on my trading ideas. I have been stopped out @9500 and i am now in cash waiting to re-enter.
Would love to hear your thoughts and trading ideas.
Stay Strong.
Trade ON!
Crypto Sludge
My plan is also to purchase between 8 and 9 k. Probably we will not see <$10000 for a long time if the neckline will be crossed. We will also leave the parallel channel and the wave structure will look very bullish:
i love it when different trading and TA styles converge to the same conclusions :D
Great post :) Thanks for sharing... Crypto is going to take over the world :D