BTCUSD H4 Potential Long targeting 30,727
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Any catalysts for this big move up?
I’m basing this on:
- Price will at least fill the imbalance below the unmitigated supply zone, if not reach the supply zone itself
- Use of an experimental method of analysis that gives me the price target
I wouldn’t consider a $1600 move by BTC on the H4 that substantial, but it’s not a guarantee either way.
BTCUSD H4 As of 8/15/2023 9:21 PM EST
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BTCUSD H4 As of August 17, 2023 7:36 PM EST - BUSTED!
Well, the market did indeed break out. Thank you Feds for bringing in the volatility.
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Did you have any trades on for this one?
Negative with the way price blasted through the zone during this flash crash. No confirmation = No entry.
Oh that’s good!
Yeah, I didn’t know that the Feds planned on spooking the crypto market. The fault of being purely technical in trading.
Does this make you want to add in fundies to your trading? Or just kind of have it baked in that sometimes it just does this?
With stocks I definitely look at fundamentals. Currencies I do check economic news. Crypto is fundamentally fake money with no intrinsic value, so in this case I’ll take what is baked into the price.
That’s true. Def makes sense.