Zooming into the 1W timeframe, it looks like the Bulls finished last week strong, but the Bears wasted no time starting this week with a push back. Come on, Bulls. This is no time for a water break.
The Bears just put 5 months of damage on that ass and you already want to call timeout? Nah. At least get price back up to the 1W Supply Range, consolidate there for a few days or weeks, then think about pushing higher. That is, if the Bears don't smack you back down for chillin' in their territory.
Because let’s be honest. This 15% bounce back is not enough. The Bears dropped 52% on you from the ATH, and now you are struggling just to get back up and test supply. That is not strength, that is recovery.
At the very least, show some intent. Retest the Macro Range Low. Show the market you actually want re-entry back into the range instead of just popping up and hoping nobody notices.
Alright, let me calm down. It is only day two of the week. Anything can still happen. For all I know, today we get a god candle ripping straight back into the Macro Range. Or maybe we get the devil’s dong straight down to 48.9k. This is the Jungle. Anything is possible.
We could even just chop and consolidate between the lows and the 1W Supply Range or the Macro Range Low for the rest of the week. Not as exciting, but let’s be real, that is easy money. Long the range low, short the range high, and pray when it finally breaks, you are on the right side.
The Bears just put 5 months of damage on that ass and you already want to call timeout? Nah. At least get price back up to the 1W Supply Range, consolidate there for a few days or weeks, then think about pushing higher. That is, if the Bears don't smack you back down for chillin' in their territory.
Because let’s be honest. This 15% bounce back is not enough. The Bears dropped 52% on you from the ATH, and now you are struggling just to get back up and test supply. That is not strength, that is recovery.
At the very least, show some intent. Retest the Macro Range Low. Show the market you actually want re-entry back into the range instead of just popping up and hoping nobody notices.
Alright, let me calm down. It is only day two of the week. Anything can still happen. For all I know, today we get a god candle ripping straight back into the Macro Range. Or maybe we get the devil’s dong straight down to 48.9k. This is the Jungle. Anything is possible.
We could even just chop and consolidate between the lows and the 1W Supply Range or the Macro Range Low for the rest of the week. Not as exciting, but let’s be real, that is easy money. Long the range low, short the range high, and pray when it finally breaks, you are on the right side.
Red Elephant
Need More TA? The Elephant Jungle: redelephant818.substack.com/?utm_campaign=profile_chips
Trade On KCEX Lowest Fees: kcex.com/register?inviteCode=TV04VP
Follow On X (Twitter): x.com/RedElephant818
Need More TA? The Elephant Jungle: redelephant818.substack.com/?utm_campaign=profile_chips
Trade On KCEX Lowest Fees: kcex.com/register?inviteCode=TV04VP
Follow On X (Twitter): x.com/RedElephant818
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Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
Red Elephant
Need More TA? The Elephant Jungle: redelephant818.substack.com/?utm_campaign=profile_chips
Trade On KCEX Lowest Fees: kcex.com/register?inviteCode=TV04VP
Follow On X (Twitter): x.com/RedElephant818
Need More TA? The Elephant Jungle: redelephant818.substack.com/?utm_campaign=profile_chips
Trade On KCEX Lowest Fees: kcex.com/register?inviteCode=TV04VP
Follow On X (Twitter): x.com/RedElephant818
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.