Mayfair_Ventures

What do you think of BITCOIN right now?

COINBASE:BTCUSD   Bitcoin
Be great to get some comments - both bullish and bearish here;

What is the current sentiment for you?

What is the retail sentiment? too eager, or right time?

Here's a few things I am fearful of in terms of the downside potential;

This is potentially a monthly ABC move - C not measured, just a question kept open.

With this in mind, looking at the potential for the pullback level, swing high to low.
This makes a lot of sense for sucker punching retail - on route to 50k

Nearing a Gann level weekly resistance.

Sloping volume giving divergence to price action.

The WEISS Volume not feeling overly Bullish

Market Oscillator for the total - less than the bar before; hitting it's quadratics high point

With the Total market Cap in over bought territory.

-------------------------------------------------------------------------------------------------------------
Assume this is a Bullish Move and none of the above is taken into account;

we have an extension 2 - 3 move here nearing its 2.618


So what are your thoughts and analysis for either long or short?

Let's get some comments!




Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.

Discord Server for education and advanced techniques: discord.gg/5t3w47raHe

Master the Art of Trading: amzn.to/3nUfB9r

Prop firm partners (FTMO)
shorturl.at/hBEQ4
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.