Expecting a big move for COINBASE:BTCUSD by DemKos

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Short market is oversaturated and bullish scenario is getting more and more likely.

Funding/premium is still negative on Bitmex and on Deribit.
Support on the 350DMA
Liquidity building on the short side, because funding is indicating majority of market is short. To take out stops and liq positions we only need to break 7500 could be domino effect after that.

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CME is still at support and in channel and we have a gap we need to fill.

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Here is an image of a recent order block put up on bincance at the 7250-7240 level. Rumors are also there will be some big news coming from China.

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Majority of orders got filled from the 1200BTC is only 300BTC remaining

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This is the trade I am in. Ladder in long AVG. 7270, will take 10% of at 7390 and move stop up. Will take again 50% at just under 7700. Will let the rest ride but move stop up gradually

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Trade closed 7270-7340. Unable to break upside

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"WIN OR LOSE, I ALWAYS LEARN SOMETHING"

This one hurts a little bit. Although I closed my trade in profit, the strategy was right all along. We only had one move more down then I expected before we had the short squeeze. This means we were smart enough to predict it and think like smart money but we need to get even better.

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