POTENTIAL BLOW OFF TOP (bull markets have major corrections too)
-Yurlo
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Just so everyone knows I'll be posting daily TA's again now that I'm back trading full time!
My reasons to be bearish:
#1: All of CT is bullish
#2: Market sentient is full of greed
#3: We’re still under resistance ($15,675-$15990)
#4: $SPX may have a -$300 correction, which would approximately be a -$1200 move it $BTC followed s&p 500’s downtrend if we get a bloody monday or week
(invalidation point imo would be if $15,675 holds on a 4 hour or daily close)
The liquidity at $15,000 (buy orders) will eventually get pushed down by sell orders which seem to be more significant. $14,750 is the next support and after that level is lost $13,800 isn’t too far away.
The longer you survive the more you’ll adapt in terms of creating a strategy that will consistently outperform the market and make you a rich man.
“20% of your actions produce 80% of your results”
Stick to your trading plan, you make your TA for a reason so respect your TA and use it as a road map.
Please SMASH that like button for me 👍
Just so everyone knows I'll be posting daily TA's again now that I'm back trading full time!
My reasons to be bearish:
#1: All of CT is bullish
#2: Market sentient is full of greed
#3: We’re still under resistance ($15,675-$15990)
#4: $SPX may have a -$300 correction, which would approximately be a -$1200 move it $BTC followed s&p 500’s downtrend if we get a bloody monday or week
(invalidation point imo would be if $15,675 holds on a 4 hour or daily close)
The liquidity at $15,000 (buy orders) will eventually get pushed down by sell orders which seem to be more significant. $14,750 is the next support and after that level is lost $13,800 isn’t too far away.
The longer you survive the more you’ll adapt in terms of creating a strategy that will consistently outperform the market and make you a rich man.
“20% of your actions produce 80% of your results”
Stick to your trading plan, you make your TA for a reason so respect your TA and use it as a road map.
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Another visual (TA ~ technical analysis I've created outside of tradingview, on ByBit)
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15 minute chart visuals ~
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By November 11th (24-48 hours) is my prediction timing wise until support levels in this region have been lost due to increased level of fear/significant sell pressure which the order book will have less buyers which ultimately should result in trading under $14,750
$15,300 & $15,400 support levels have broke. Buyers must show strength here or the last aoi before losing $15,000 is $15,200 imo
$15,300 & $15,400 support levels have broke. Buyers must show strength here or the last aoi before losing $15,000 is $15,200 imo
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Everyone on CT is posting ridiculously high price targets for btc and other alts before 2020 ends but the market sentiment greed level (90/100) tells me the market may want a healthy correction before continuation to ATH’s and price discovery in 2021-2022 (over extension phase)