BITCOIN sweet spot for "IF" we're going to continue north...
The world is on fire! Bitcoin is DEEAAAADDDD! LOLZ
Here I'm looking at
BTCUSD on the 4HR and I really only see 2 possible scenarios after that massive dump.
1. BULLISH-We bounce out of the SHAKEOUT sweet spot (-30% to -40% which is from $9650-$8250), a healthy and needed correction and we charge onward and upward. Any bounce before this zone is highly likely to be sold off IMO.
2. BEARISH-(Condition = Over 50% drop) This is still a bear market and it's beginning of MUCH MUCH MUCH MORE BLOOD and we finally find a new low and final bottom before bull market.
How to play the two very different scenarios? Set a few laddered buy orders in sweet spot range and at the same time look for Short entries/opportunities on relief bounces before we get to that zone (like the current relief bounce happening now) :P
Trade at your own risk, not financial advice. Just what I'm doing.
Here I'm looking at
BTCUSD on the 4HR and I really only see 2 possible scenarios after that massive dump.1. BULLISH-We bounce out of the SHAKEOUT sweet spot (-30% to -40% which is from $9650-$8250), a healthy and needed correction and we charge onward and upward. Any bounce before this zone is highly likely to be sold off IMO.
2. BEARISH-(Condition = Over 50% drop) This is still a bear market and it's beginning of MUCH MUCH MUCH MORE BLOOD and we finally find a new low and final bottom before bull market.
How to play the two very different scenarios? Set a few laddered buy orders in sweet spot range and at the same time look for Short entries/opportunities on relief bounces before we get to that zone (like the current relief bounce happening now) :P
Trade at your own risk, not financial advice. Just what I'm doing.
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