BTC/USD - Coinbase Exchange
What way do you think its gonna go? : Up
When? : I couldn't exactly tell you but I have been seeings squeezes everywhere and clearly it looks like we are squeezing again within another big triangular form, that came into existence when we fell down. The 4hr before the fall fired short, and the 4 hour is a respectable timeframe that does give you some time to react. I believe the 4hr will fire long soon and we might shoot up just like we shot down except not as much in price action.
Will we go past the prior high? : Honestly no... since this new pattern has materialized, the max it could shoot up "in my opinion" is where my target is on the chart which is roughly the 9.9k-9.8k area. While it could... go higher it would most likely lead to a wick rejection noticeable on bigger timeframes. instead of a trail of closed candles that lead lower. If it does... great! more profit but I would set stops around there to take profit safely if the moment does come up bursting through levels. When it comes to when to holding a position in profit.... you do you boo.
Im hoping we get back into the original triangular pattern but thats a long shot, the daily ttm momentum looks bullish but the daily on a fresh new position isnt perfect, we might be going up or down in wild ways, as we go up. For a weekly swing trader it may be more relaxing, day traders might "sh their pants"
When? : I couldn't exactly tell you but I have been seeings squeezes everywhere and clearly it looks like we are squeezing again within another big triangular form, that came into existence when we fell down. The 4hr before the fall fired short, and the 4 hour is a respectable timeframe that does give you some time to react. I believe the 4hr will fire long soon and we might shoot up just like we shot down except not as much in price action.
Will we go past the prior high? : Honestly no... since this new pattern has materialized, the max it could shoot up "in my opinion" is where my target is on the chart which is roughly the 9.9k-9.8k area. While it could... go higher it would most likely lead to a wick rejection noticeable on bigger timeframes. instead of a trail of closed candles that lead lower. If it does... great! more profit but I would set stops around there to take profit safely if the moment does come up bursting through levels. When it comes to when to holding a position in profit.... you do you boo.
Im hoping we get back into the original triangular pattern but thats a long shot, the daily ttm momentum looks bullish but the daily on a fresh new position isnt perfect, we might be going up or down in wild ways, as we go up. For a weekly swing trader it may be more relaxing, day traders might "sh their pants"
Nota
Mind, but dont mind the purple lines... those are trend lines I made on smaller timeframes..Nota
Consider this chart, because I am going to post another chart in a few minutes, explaining a possible idea, but take a grain of salt after I post it. - Spoiler it's bullish but.. YeahNota
Ok, it has been a hot minute and I see that the ttm squeeze watches were not only holding on but growing to the bullish side of the spectrum. A lot of the squeeze watches I was worried about have started to turn bullish. This is great because a train of bullish momentum will be on it's way if it all fires consecutively but keep in mind, I have seen what happens if everything fires around the same time.. Bearish divergence, Keep an RSI or a VAPI or both for divergence because it could happen, the last time this happened there was a squeeze watch that fired long on the daily.. now this is not what happened, but.. I did say the switch in flow of momentum of the daily ttm was growing bullish, coming from a dive. Smaller time frames can switch on a dime, Ive seen it happen so still keep a close eye out, because 1 thing can lead to another we might be building a bullish house of cards but flick one bearish move and it's game over.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.