VRC BTC POLONIEX

16 Mei 2017

New Weekly & 3D candles seem to print a lack of market confidence. Perhaps a cool off time however in watching the order books yesterday and the extremely low volume, I dare say we soon will see new local lows. Liquidity is poor, and the sell side of the books is building dramatically with near 2 million coins on orders. I have a target between 6400-6800 sat which will take the price below the 200MA on the 2H , right at the bottom of a channel that has formed. Currently I have no position, and wont chase price at the middle area of this slow upwards channel. There is simply not enough volume nor liquidity to enter now with bid walls being lowerd as soon as they are touched. To me this is price-propping and again the longer time frame doji close and RSI down turn on the 1W says price will go lower.6 & 12 HR pinching. Trade the set ups and price action is my rule of the day. Tight stops at the bottom of the channel incase of a complete breakdown of trend. Same with a break out super tight stops.



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