BTC on the doorsteps of 10K

Since the last post it seems my idea was invalidated. If you are in our discord server you would of been kept up to speed with my updates given twice a day. We had the overnight update buying the low or staying flat (no shorts) but i did NOT expect to wake up to breaking the highs. The structure I suggested previously also has been changed. As more data presents itself the clearer the picture should become if we are indeed close to the end of this bullish move from the lows in December. As BTC climbs its way to 10k it is beginning to enter a HTF zone of resistance as well as being in the 5th and final wave of an impulse it is VERY hard for me to say we get through it entirely. I can see a heavy push into the mid range of the resistance zone to about 10.2-10.5k USD but that is it. The upper range of this zone is seen at 10.8K for reference.

HTF traders / swing traders you are starting to look for shorts at any sign of weakness into this resistance zone. Using valley range theory break down rules or HTF candle closes or momentum shifts using SRSI on the lower time frames such as the H1-H4. For the low time / intraday traders shorts are risky until we find a logical reversal using valley range theory. We must break a pivot and then fail to retrace back over the breaker move. Look for the m13-m30 charts for guidance to where momentum is going.

If we perform an SFP on today's candle close then the bearish scenario in purple is likely. Close over this range at 9.6K then we likely continue up shown in cyan. Trade safe and always remember to use a stop loss!


©2019 by Elevate Trading Group:
Trading contains substantial risk and is not for everyone, we are not financial advisers and what we share are just our thoughts and opinions. We work to recommend low risk, high reward trades, but you should never risk more than you can lose and we are not responsible for ANY losses or wins incurred. An investor could potentially lose all or more than the initial investment under certain circumstances. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is no guarantee of future results.