It seems alot of buyers have been picked up on the recent spike at 41000.
Heres what I know:
The 20, 40, and 80 day FLD are all cascading below price, and the idea is to break that to the downside
Theres also a 5 day VTL below price with significant stops below
The 40 day FLD peak shadow is still valid from 3 weeks ago and makes think the 20 week cycle is trying to complete in the downwards direction
I feel price will track the 20 day FLD more ahead
There will be a down move into the weekend and next week.
20 day FLD projection from previous crosses, indicates the upcoming break will send price to 36000 and 33000
Stop size is limited for these moves, for the 36000 target, there can only be a stop where it now, at 42500 for this trade to bs consistent with methodology of at least 2.5 to 1 on $BTCUSD trading
stop size is more favorable if holding until the 33000 target. And the stop could be up to 43500, but I dont like that
I dont like it because it would mean Id be waiting too long for the market to signal that a new 80 day cycle has started.
I dont need 43500 for that.
I only need 42500
Because I f it breaks 42500 then I know a 20 day downsloping VTL was broken, and that would signal that the 40 day trough, and likewise, a (probable) 80 day and 20 week trough as well.
I hope this is understood
if not, text me, Ill set you up good 803-636-3786
So far, no movement for 2 days. Again, not volatile, no selling, just waiting…
Derek