Our central view on Cryptos has been Long since the breakout of all the daily structures in Bitcoin / Ethereum / Ripple.
Main items we can see on the Daily Chart:
a)Price made a massive long movement towards the next resistance zone as expected (take a look to link to related ideas) b)Currently, in the resistance zone, we can see that in the past, a similar scenario happened. Motive wave + correction on current levels. c)We will be waiting for the same correction before new trades. Our target will be the previous Higher High d)The correction we are expecting will probably be between the Support ant the Resistance you can see in the chart. e)We are waiting for similar movements on Bitcoin.
I’ve been watching that too. Could be a nice roadmap. I wish it were that easy..
ThinkingAntsOk
⋅
@mfibbs, Yes, using previous events as a roadmap is always useful to deduct where we can found the next support/resistance zone. We don't say trading is easy but is much simple than most people think. Like, for example, waiting for this correction as a filter before trading. IF that happens, we develop our setup. IF that does not occur, we will not trade, and we will keep looking for High-Quality opportunities on other charts. Our main idea is Never to force a trade on a chart and always look for scenarios that we developed before the price made a certain formation.