What do you think of BITCOIN right now?
Be great to get some comments - both bullish and bearish here;
What is the current sentiment for you?
What is the retail sentiment? too eager, or right time?
Here's a few things I am fearful of in terms of the downside potential;
This is potentially a monthly ABC move - C not measured, just a question kept open.
With this in mind, looking at the potential for the pullback level, swing high to low.
This makes a lot of sense for sucker punching retail - on route to 50k
Nearing a Gann level weekly resistance.
Sloping volume giving divergence to price action.
The WEISS Volume not feeling overly Bullish
Market Oscillator for the total - less than the bar before; hitting it's quadratics high point
With the Total market Cap in over bought territory.
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Assume this is a Bullish Move and none of the above is taken into account;
we have an extension 2 - 3 move here nearing its 2.618
So what are your thoughts and analysis for either long or short?
Let's get some comments!
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
What is the current sentiment for you?
What is the retail sentiment? too eager, or right time?
Here's a few things I am fearful of in terms of the downside potential;
This is potentially a monthly ABC move - C not measured, just a question kept open.
With this in mind, looking at the potential for the pullback level, swing high to low.
This makes a lot of sense for sucker punching retail - on route to 50k
Nearing a Gann level weekly resistance.
Sloping volume giving divergence to price action.
The WEISS Volume not feeling overly Bullish
Market Oscillator for the total - less than the bar before; hitting it's quadratics high point
With the Total market Cap in over bought territory.
-------------------------------------------------------------------------------------------------------------
Assume this is a Bullish Move and none of the above is taken into account;
we have an extension 2 - 3 move here nearing its 2.618
So what are your thoughts and analysis for either long or short?
Let's get some comments!
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
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