May Have a Push Down Next 6h Candle; Have Stop Loss in Place.
I'm definitely seeing a chance for one more push down to begin possibly in the next 6 hour candle that begins approximately one hour from now. So, if you are currently in a margin long position, you may consider closing your position and wait for a dip or dump to POTENTIALLY my 0.786 Primary FIB at $7820.37. It could wick a little below that to fill a CME gap at $7,700.
If you have bought in here to accumulate, just letting you know there is a CHANCE to drop lower to my Primary 0.786 FIB at $7,820.37. IT IS POSSIBLE to have a little run up before falling down. If you haven't done so already (as advised in the previous video) please have a stop loss in place to keep losses small and gains large.
If you have bought in here to accumulate, just letting you know there is a CHANCE to drop lower to my Primary 0.786 FIB at $7,820.37. IT IS POSSIBLE to have a little run up before falling down. If you haven't done so already (as advised in the previous video) please have a stop loss in place to keep losses small and gains large.
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Yes, I was reluctant to click "PUBLISH" for this publication. I simply want to be transparent with what I'm currently seeing. We may have to wait until next weekend to have our exponential push upward while we shakeout week hands the remainder of this week. Yes, I could be wrong but I currently do not like what I'm seeing.
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BOTTOM LINE: Have a STOP LOSS IN PLACE to keep losses small and gains large. A stop loss is one of the most important tools we have as a trader. Learn to use it well. Be religious at using it...
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The Phoenix Ari 1.07 in the 12h (center) and 24h (right) have not come up enough to convince me the exponential move up is beginning just yet. We may have to wait until this coming weekend for the exponential move up to begin. In the meantime, bears might take control for the rest of the week. If you have a stop loss in place, you should be alright.
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LET ME MAKE MYSELF CLEAR: I'm NOT saying sell what you have in the hope of buying lower. There is still a CHANCE of it not going lower. What I'm saying is to have a stop loss in place to protect yourself. If you bought in yesterday when I said, you SHOULD be up right now. So, you can consider a stop loss at or just above where you bought in yesterday.
If your stop loss does get triggered and it continues falling, then you have a chance to get in lower with little to NO loss incurred. Probably still come out with a gain if your stop loss is triggered; depending on where you bought in and what price your stop loss is filled.
If your stop loss does get triggered and it continues falling, then you have a chance to get in lower with little to NO loss incurred. Probably still come out with a gain if your stop loss is triggered; depending on where you bought in and what price your stop loss is filled.
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I still have some thinking I'm saying to sell right now. NO, I'm NOT saying that... I'm Saying HAVE A STOP LOSS IN PLACE in case of a big shakeout to fill the CME gap at $7,700. That's what I'm saying in a nutshell. I see POTENTIAL for downward pressure coming up. How much this downward pressure pushes the price action down is unknown. Hence, the reason for using the most important tool in our arsenal... a stop loss.
There's still a CHANCE we do not drop down deep to my 0.786 FIB at $7,820 and continue going up. Very possible. I just want my followers to be PROTECTED.
There's still a CHANCE we do not drop down deep to my 0.786 FIB at $7,820 and continue going up. Very possible. I just want my followers to be PROTECTED.
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Another psychological argument is generated by having a look at the BitFinex margin short and margin long contracts. It's POSSIBLE they may want to spook these margin long contracts to get many of them to close their position before taking it back up. Hence, another reason for potentially pushing it down to fill the CME gap at $7,700. I'm simply stating POSSIBILITIES from another psychological perspective rather than a technical analysis perspective only.
The longs vastly out numbering the shorts does NOT necessarily mean we will dump here. I simply want you to have a stop loss in place (if you are long) to PROTECT yourself.
Chart Below: BTCUSD (Top); Bitcoin Short Contracts (Middle) and Bitcoin Long Contracts (Bottom):
The longs vastly out numbering the shorts does NOT necessarily mean we will dump here. I simply want you to have a stop loss in place (if you are long) to PROTECT yourself.
Chart Below: BTCUSD (Top); Bitcoin Short Contracts (Middle) and Bitcoin Long Contracts (Bottom):
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When looking at the 90m, 180m and 360m time frames, we can see they are potentially working on a local double top before potentially taking it down.
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Here's the CME Bitcoin Futures "Gap" in the Daily TF:
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Excuse me, that's the 4h TF... You would see it in the Daily as well.
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Simply an update to let you see what Phoenix 1.118 and Phoenix Ari 1.07 look like in the 6h (far left); 12h (left of center); Daily (right of center) and 2-Day (far right). We still have a CHANCE to run up from here. You should still have a stop loss initiated as a precaution.
