BTC (Y20.P4.E15).Don't be too quick to judge

2020年10月26日

Hi All,

Just a quick update:
Note the links below, touching on macro level hypothesis.

For now:
Looking at the short term, 8 hrly to 3 Day chart, we are still bullish in my opinion.
Many times I was making calls to early when we reach new heights but for the past few months, I have learnt to hold back and look at the longer time frames.
There is no reason why we should not do it here as well.

Some fractals are on display here. The purpose is to illustrate that we should 1st expect a topping formation before we see price fall, and hence hold back.
In the meantime looking for is signs to sell to buy those dips like yesterday. I missed that.

In my opinion, we will be here for a bit longer as the fractal suggests, as we are at a key resistance and prior to 12500 pullback, I had 13800 as the target.
Looking at the 8 hrly chart below, it would not surprise me that we hit 13800 to 14K before a bearish candle.
We had that candle yesterday however it got swallowed up relatively quickly.
I suppose this will happen at each resistance level.

8 HRLY fractal.




Please give me a like or tick for this post


Regards,
S.SAri

2020年10月28日

註釋

From an old post where I made the argument for a bullish market

2020年10月28日

註釋

My target range is hit and yet the indicators show more upward pressure from the 8hrly and onwards. Wow.