Target areas for BTC if we continue to decline
Well I'm glad I timed my selling better than previous runs, sticking to my target and binning remaining NEO at $80 and not FOMO into the additional $4 rise. BTC changed direction just north of target (BTC either goes higher than expected or lower as this is where the Market Maker wants to do their business!). Watching the action as a novice I noticed a few changes in trading patterns.
1. The large Market Maker buy walls propping up the price dissipated on the ALTs I was observing and started to appear as sell walls in the final hour/s. This behavior continues now with a bias towards sell.
2. The Manipulation wanted to create specific daily candles at specific times - the market has changed gear precisely on the close for the last few days sending a bullish signal for trading on the 24th - These look bullish but I was cautious about them as I feel they are part of a manipulation - I'm certainly no pro so If you know what they mean please share?!
3. Sharp incline developed with high frequency trading (much like what we saw at the recent bottoms). This was accompanied with calls for Moon which is always a good sign things are about to flip ;)
4. ALTs started to decline / stay static as BTC went on its final run. If more experienced folks are starting to sell off then its a pretty good indicator of events to come.
I've taken some retracements at lower levels but now only working around this plan (with a cheeky stop in place just in case we shoot up beyond the normal retracements expected):
A, B = Short term targets - These seem obvious and I expect them to fail over the coming days if we continue bearish so I'm only comfortable in taking short term profits from these (sell on pumps and accept some small missed opportunity if the market continues to go up). Why fail? Because the only money in the market is ours and the Market Maker and they are not going to buy when I am thinking of buying.
C = Mid-term target - Most retracements i have observed (Squeeze / Stop Hunt) end at previous key resistance points (typically not consolidation areas - these are built to trap the majority). I'm expecting March 18th lows here.
D = Possibility - I remember back in January thinking that 7k was impossible and would never happen (as did many). Now many are rubbishing the idea of dropping deep I think it is back on the table.
Note that this is just my bearish scenario and as I don't margin trade I have a bullish solution in my back pocket it the market changes.
Best, HF
1. The large Market Maker buy walls propping up the price dissipated on the ALTs I was observing and started to appear as sell walls in the final hour/s. This behavior continues now with a bias towards sell.
2. The Manipulation wanted to create specific daily candles at specific times - the market has changed gear precisely on the close for the last few days sending a bullish signal for trading on the 24th - These look bullish but I was cautious about them as I feel they are part of a manipulation - I'm certainly no pro so If you know what they mean please share?!
3. Sharp incline developed with high frequency trading (much like what we saw at the recent bottoms). This was accompanied with calls for Moon which is always a good sign things are about to flip ;)
4. ALTs started to decline / stay static as BTC went on its final run. If more experienced folks are starting to sell off then its a pretty good indicator of events to come.
I've taken some retracements at lower levels but now only working around this plan (with a cheeky stop in place just in case we shoot up beyond the normal retracements expected):
A, B = Short term targets - These seem obvious and I expect them to fail over the coming days if we continue bearish so I'm only comfortable in taking short term profits from these (sell on pumps and accept some small missed opportunity if the market continues to go up). Why fail? Because the only money in the market is ours and the Market Maker and they are not going to buy when I am thinking of buying.
C = Mid-term target - Most retracements i have observed (Squeeze / Stop Hunt) end at previous key resistance points (typically not consolidation areas - these are built to trap the majority). I'm expecting March 18th lows here.
D = Possibility - I remember back in January thinking that 7k was impossible and would never happen (as did many). Now many are rubbishing the idea of dropping deep I think it is back on the table.
Note that this is just my bearish scenario and as I don't margin trade I have a bullish solution in my back pocket it the market changes.
Best, HF
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