- We have our two consecutive lower closing price on 15 mins chart - My opinion is the price has been rejected by this level. This should be valid until we close above $11652
- I am short term
- First buy zone is based on 1.618 of the previous leg to the downside.
- Second buy zone is based on 2.618 + .236 retracement from the low of ~$6K
This is no trade zone
i am bullish now
From price A to B, a bear market usually travels faster (slope is steeper).
In this case, we would have had made the same amount of $ shorting the downtrend in almost 50% less time! Cmon, how can you not love bear markets?
Why is it the case? Because people panic faster compared to the time it takes for greed to kick in.
I am now bullish because the price action says so.
Nevertheless, I look forward to the next mega bear trend.
Future adjusted buy zones
I am not opening long positions at the moment.
Sharing my thoughts with you all
- SL: 10822
- Base price: 10777 (mine is higher since I shorted at the resistance trendline at $11750)
- Target: $8310
R:R is an absurd 54.82
I am playing a big position. This is what high R:R allows you to do.
- BTC: 12L635hTz12ZcwBzdixwKyWYpkpUa5ve8p
- ETH: 0x05f171e02092ce9200779ace56ff1b1411e1ec26
- LTC: LTFr3Jp445vENZUZQopQPoqRgeSyGs36fe
Hope this info has helped :)