Hi, this is a more local analysis of the Bitcoin situation.
After the recent falling, many are wondering - what's next?
And nobody will tell you what happens next for sure, but I will give my suggestion about the upcoming movement.
Making predictions is an unfortunate business. As you understand, I am engaged in this business. For me, it is about studying the financial markets, behavioral economics, cycles, and other aspects of the market. I'm definitely not a visionary. I analyze the market and share my observations with you. Your best "thank you" is Like and Comment!
Continuation
I'm sure 90% of traders will soon see this beautiful Head and Shoulders reversal pattern. People will definitely open the short positions around the resistance line.
I want to warn you - the most dangerous time for beginners is the flat period or sideways movement of the market when the instrument moves in a small corridor.
After most of the market participants gain short positions, a short squeeze may occur - this is the liquidation of short positions. In other words, the achievement of stop losses - in this case, the position is closed by market price and, accompanied by green candles.
If this happens - we will see a super bullish formation that will be deceiving. We will possibly make a reversal movement and go to test the level of the previous high-level 20k. It will be accompanied by the new record numbers of the long positions liquidations.
This forecast may not be valid. I see this scenario as one of the most plausible for me.
Do not trade with margin, leverage, observe risk management, best of luck to all, and big profit.
Best regards, EXCAVO
After the recent falling, many are wondering - what's next?
And nobody will tell you what happens next for sure, but I will give my suggestion about the upcoming movement.
Making predictions is an unfortunate business. As you understand, I am engaged in this business. For me, it is about studying the financial markets, behavioral economics, cycles, and other aspects of the market. I'm definitely not a visionary. I analyze the market and share my observations with you. Your best "thank you" is Like and Comment!
Continuation
I'm sure 90% of traders will soon see this beautiful Head and Shoulders reversal pattern. People will definitely open the short positions around the resistance line.
I want to warn you - the most dangerous time for beginners is the flat period or sideways movement of the market when the instrument moves in a small corridor.
After most of the market participants gain short positions, a short squeeze may occur - this is the liquidation of short positions. In other words, the achievement of stop losses - in this case, the position is closed by market price and, accompanied by green candles.
If this happens - we will see a super bullish formation that will be deceiving. We will possibly make a reversal movement and go to test the level of the previous high-level 20k. It will be accompanied by the new record numbers of the long positions liquidations.
This forecast may not be valid. I see this scenario as one of the most plausible for me.
Do not trade with margin, leverage, observe risk management, best of luck to all, and big profit.
Best regards, EXCAVO
If you want to see my portfolio
1. Register at partner.bybit.com/b/excavo
2. Send your UID to t.me/excavo
3. Get a link to the portfolio
t.me/excavonews
t.me/excavochannel
Admin:
t.me/excavo
1. Register at partner.bybit.com/b/excavo
2. Send your UID to t.me/excavo
3. Get a link to the portfolio
t.me/excavonews
t.me/excavochannel
Admin:
t.me/excavo
