Is BTC setting up a massive Wycoff scheme? if so we are in the spring phase C! Can't wait to see how BTC is gonna play out this month!stay safe out there peeps! bulllllllll!
Nice one. It looks pretty Wykoff indeed. I went long on Friday last. At the moment of posting their is a minor breakout north on the one hourly time frame. I don't hope that it develops, because I don't do 'hope' in my trading.
I'll follow that trend as long as it will go but expect it to become more volatile if it is rising further.
I've noticed that markets when beginning to recover, start with small 'counter-trends' up which can grow. I think that tends to happen because people jump in on what looks like a good deal for increasing their equity - a sort of 'herd effect'. Then comes the stampede. We shall see. There is still a probability that BTCUSD could fall south to 4000 but I'm not bothered. Whichever way it goes, I'll follow. :)
CFcryptoTA
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@Captain_Walker, Yes 4k still a possibility, but good news over the past week had raise positive sentiment in the market. i believe we are going to retest 6.4k in the next few days as BTC is running out of gas, but i spotted a hidden bullish divergence forming on the day frame plus the 18 of April is the end of the tax period which should bring back a flow of fiat into bitcoin and the cryptomarket! my next target is 6.4k in the near future and from middle April will start to open more long positions! i believe 4000 is unlikely as it looks is getting less and less volatile in the past days, it looks like is accumulating, but we never know BTC can be a joker. without a clear trend/reversal tight stop losses is a must for me.
I'll follow that trend as long as it will go but expect it to become more volatile if it is rising further.
I've noticed that markets when beginning to recover, start with small 'counter-trends' up which can grow. I think that tends to happen because people jump in on what looks like a good deal for increasing their equity - a sort of 'herd effect'. Then comes the stampede. We shall see. There is still a probability that BTCUSD could fall south to 4000 but I'm not bothered. Whichever way it goes, I'll follow. :)