฿ Bitcoin BTC/USD Daily Video, July 27, 2020

kris82

Private, 1st Class
Messages
34
Sive, can I ask you why would you expect such a big pullback up to $9800? Thank you. I mean, previous corrections in this swing up were shallow. Is this because we reached XOP or other reason?
 
Last edited:

Sive Morten

Special Consultant to the FPA
Messages
13,905
Sive, can I ask you why would you expect such a big pullback up to $9800? Thank you. I mean, previous corrections in this swing up were shallow. Is this because we reached XOP or other reason?
After XOP - yes, this is one of the reasons. In fact my expectations differ depending on stage of the retracement. If it is not even started (as yesterday), I just set near standing Fib levels and look what will happen. If it is started already - then I calculated, using downside extensions.
In case of recent BTC action, yes, pullback was very small, not even to 10K level. This is an area of decision making when "personality" steps in. All that I can do is just specify, as I think, probable levels that could be reached by probabilities. But trader could take in consideration even smaller levels.
 
Top