BTC just had doji followed by TD9 on hourly chart. Doji indicates reversal and TD9 is statistically followed by 1-4 candles of upside. After 3 more candles reevaluate.
I am waiting to see indicators that I highlighted in the chart to show me next trade.
Happy trading, scalping and catching falling knifes :)
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If this candle closes below 9750 it is time to short/sell BTC.
It will mean that support line is broken.
Next support cluster is at 9000-8650. If we close below it we can expect another significant drop.
So if an upwards movement to around 10k means a probable rocket downwards, what would suggest a bullish scenario????more down??consolidation??? im kinda confused
There are several factors on that picture that are developing:
1. Death cross- It was great predictor of BTC going down significantly so far;
2.bottom of the channel that is now resistance. If we break it, it will obviously be a good sign;
3. TomDemark 9 says that statistically we will have 1-4 candles up and that then we need to reevaluate;
4. Double bottom: If we close near it, statistically speaking we are going down;
5. If we go down first significant support is about 9000 (previous highs).
At the moment: NO TRADE. Observe and wait for these factors to develop.