Quick and simple chart that quite clearly shows a very likely bounce zone.
BTC is sitting just above a long term support zone from March 2017
BTC has strong support at this range. I am seeing 2 scenarios
1 - we touch support now and bounce to upper targets (as shown on previous charts ) 2 - head higher to test resistance, then to support for bounce to upper targets.
I am seeing scenario 2. as the more likely right at this moment, as most of the market are thinking we will be having a deeper correction, for me it makes more sense to buck the trend. Right now LONGS AND SHORTS are very equal. Longs are starting to grow again, and these are used as liquidity to move the market. So to me it makes sense to grow the LONGS, then drop the market again to support ranges.
Either way there is currently lots of indecision in the market, and whether we go up or down right at this moment the overall trade range for the next few weeks will be 7,200 - 9444 for a little longer, which will allow the ALTs some breathing room and we should see BTC Dominance stable around 54-55 and ALTs continue to bounce.
REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION (minimize your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!!
<3 Lisa
DISCLAIMER:
The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons...
PS make sure you give me a like, that way you get updates as I post them.... :) <3
UPDATES: Haha once again price rebound on my support: Maybe the BEST chart I have ever done on Tv.
LisaNEdwards
⋅
@ComeTcrypto,that is not how you use the pitch fork
KassandrA_dotcom
⋅
@LisaNEdwards, This is how I use it. WIth more result than 99% of the people here.
LisaNEdwards
⋅
@ComeTcrypto, well if it works then keep doing it :)
LisaNEdwards
⋅
@ComeTcrypto, well if it works for you, then yeah keep doing what you are doing :)
VictorCobra
⋅
I’m glad someone with more of a following is talking about this. Thanks for your work! I’ve actually been talking about it for quite a while now. It’s allowed me to forecast several recent moves by the market.