Do you know there is a CME gap at 13800, and 11900 USD?. Well these gaps were filled in 2018. And they have not been filled till now. They may be filled now, that we are in a bull market. This is the what may come next week or maybe in another few months again.
These gap are there and unfilled.
This is my entry for the 100DAYSOFTA challenge, Saturday 1st August 2020.
I am joining a challenge by a group of traders. The challenge is #100DAYSOFTA. Some of the people in this group have posted on $Youtube, $Twitter but I will be posting mine on Hive.
The convener of this challenge is https://twitter.com/CryptoluXP
However, the frequency might not be daily but it will be sequential.
Having said that, here is what I have:
The trend has been so wonderful on this TF, we have truly entered in to another phase entirely. Parabolic move to the upside, with all resistance getting crushed. It is a good thing to know that ST is bullish on this earlier before. We can see that it is a great tool/indicator to enhance the market language and reaction. This combined with some other prior knowledge of TA is something worth using. The percentage success is higher though. We also, have Willy extending so long in the oversold region. This has not experienced a reset, but instead an oscillation in the upper value.
ST is also long on this TF,we have been having the support increasing. The support now is at 11000 USD approximate. This means if we drop we may not close below that price and we would have to bounce back again. Since this is so short TF, a sharp rejection might occur before a continuation of the move or further dump if BTC should come to support. Willy is also over extended and can stay at this level for long. This is something we are experiencing now. I believe a sharp dump to reset the Willy is coming.
On this short TF, we can observe thesame phenomenon like the previous ones. This is with a long support and then we may have the lift off to higher price. The support is at 11200 USD. This prices are surprising as I couldn't easily belief we will go into the fast rise in price so soon. Also, Willy has been extending for a long time and will correct at some point. Then we will have a good dump in price.
15mins and 5 mins charts respectively.
4hrs ST is long
1hr ST is long
30 mins ST is long
Nothing has changed yet.
The best way to trade this is to use Willy and the trend at lower TF. I am not sure 4hrs will be appropriate now.