BTC just pumped up out of it's 3 week consolidation zone to test the daily supply zone and form a Higher High.
The demand zone created by the push lines up beautifully with the 61.8, and is just slightly below am EQ.
Therefore I expect this area to act as strong support, especially as the bullish trendline rises up to meet this area.
I expect to see a rejection from the supply zone, price come down to my demand and then bounce back up for a second crack at supply.
However, The Daily Trend is still Bearish, and we are forming a large ascending wedge straight into the supply zone.
Therefore, I've only entered for 0.5R as I'm counter trend trading and expecting to milk the last few $$$ before I believe Bitty falls over and heads south.
The demand zone created by the push lines up beautifully with the 61.8, and is just slightly below am EQ.
Therefore I expect this area to act as strong support, especially as the bullish trendline rises up to meet this area.
I expect to see a rejection from the supply zone, price come down to my demand and then bounce back up for a second crack at supply.
However, The Daily Trend is still Bearish, and we are forming a large ascending wedge straight into the supply zone.
Therefore, I've only entered for 0.5R as I'm counter trend trading and expecting to milk the last few $$$ before I believe Bitty falls over and heads south.
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