bitcoin. Short potential. 2day. Camarilla

10 ago 2020

Cam monthly levels. we hit the top of predicted monthly range perfectly. if we reject here. the typical play would be to target the L3 on the otherside. supporting information is that the sentiment is very bullish. over confident. fear and greed highest since 14k last year. fisher transform on 2day is +4. TD9 sell set ups are on larger time frames. godmode on daily and two day signalling top locally. wave trend. The inverse of wix sensing top points. OBV shows lot of buying in this area. The PPO is in the red extreme warning threshold. The defi movement is just big money narrative or getting more money to begin with. the worlds economies are going to face hardship the coming months. BTC has NEVER been a good storage of value at these levels. People are trying to compare the price action here as if it is unstoppable like 2017 however this is not a blue sky breakout. That is just my two cents.


P.S Potentially we could bounce from 11.8 or see the H4 level or up to it for some upside hunting. that is a large space so exercise caution. stop loss yourself maybe around 12.1 and look to reposition after that happens if it does.

10 ago 2020

Nota

also. ignore the short label at 11.2.... but actually that is a weekly wave trend signal which support the facts we are pretty overbought on larger timeframes. and have bearish divergences being formed on things such as 6hour. 12hour. daily. the list goes on a bit

11 ago 2020

Nota

trade looks good. halfway through a monthly play. because there is still bounce potential. good idea to take profit on half or at least a third