Pierre
Pierre 2 minutes reading from Bitcoin

SPX H4/11/2016: Price Analysis and Trading Update

SPX BTC - H4/D1

1) ✅ 2) ❔ 3) ❔ 4) ❔

Focuses for the next few H4/hours:

- SPX retest of H4 trend from above, must hold for "pre CPI pump" scenario to continue unfolding = 3,650-3,700. - On BTC flipping H4 200 EMA and 19,500-20,000 == D1 100 MA rapidly next.

Main idea remains to ride BTC as long and as high as possible as long as SPX500 H4 is in uptrend, main targert remains D1 100 MA @ 21.0-21.2k for now.

Second idea remains to short alts on bearish D1 trend retests, and ideally as close as CPI next week.

So far everything is unfolding quite perfectly, as I said it a few times already my main goal is to ride BTC well on this move, so that's really where I focus on right now.

SPX H4 trend has been godlike indicator short/mid term direction since I started focusing on it.

I just accept that I'm a SPX beta trader, I don't understand much yet in macro and everything, but trading and crypto is a good enough reason to start learning.

As updated there, some important retests potentially(?) incoming for this current strength to sustain: - SPX H4 3,650-3,700, - BTC H4 19,600-20,000.

As long as these holds I think we could get BTC 21keks and SPX 3,800-3,850.

Repeating myself a bit, again, but can't hurt.

This post is based on this twitter thread.

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