Ok gang now the depth of what to expect today.
Bitcoin – Bitcoin is testing the 50ema on the 1hr, the 58k is in sight. Now a couple things can happen from now in preparation for the weekend.
1) they may hold this range and make another attempt to the upside and pull price straight back into the 57800 and 57400 range…hold it until Friday night coming into Saturday and then make their move higher and break the 60k
2) bitcoin may take out the 60k today.
3) Dollar yen is starting to break down. In light of disparity, dollar yen decides to make another attempt at the highs but fails to break up higher and stays within the previous peak. 3 hits to the high have been established. Could we see this as the point where we “kill the dealer” ? (*Killing the dealer* is referring to the idea that the dealer has tried to manipulate price to induce traders to step in and go long, but we know it’s a trap and we go short. Of course we must be mindful of any news announcements that are due out today which could trigger this move)
4) Bitcoin may be subject to a news announcement. So be mindful of the impact of this.
5) If bitcoin moves higher, be aware of the speed of candles as it approaches the high. If you see the 3 vectors appearing on the 15 m time frame with the final candlestick appearing blue, you will know they are slowing down the move higher…
6) If they do break higher, allow time for price to move away from the 50ema and show momentum. Trade the pattern….
Let’s see how they roll out today guys.
Be cautious, the current price action across the board, everyone is making assumptions on the reasoning for the moves. Remember, when the MM hold a range for so long and aggressively come away from it to go back into it, you know they are running for liquidity. E.g. Stop hunting.
As always guys, aim for bases, no home runs….u grab a home run, celebrate it, don’t try and catch another, you might strike out.