POSSIBLE HEAD & SHOULDERS (bearish pattern) FUNDING IS POSITIVE
Hello traders,
It's been quite a crazy 24 hours in the crypto markets.
Yesterday we had the YouTube conference with Jack, Elon, Cathie and some other random guy. The result?
EVERYONE is calling for a reversal and expecting bitcoin to push much higher and that's exactly what they wanted.
A coordinated conference to provide liquidity, retail is now filling big money's bags and wouldn't be surprised to see lower levels from here on out.
$30,888 - $31,111 would be an area of interest as it's a good place for market structure to prove itself, but also around the same area where 25x longs get liquidated.
Head and shoulders weren't designed to be printed so everyone and their mother see's it, that would be a textbook pattern and never usually happens.
I'll give it a few hours to play out and see if we get the right shoulder, if we do I'm sure we'll be trading below $32,000 by the end of today/tonight depending on how price action develops.
It's been quite a crazy 24 hours in the crypto markets.
Yesterday we had the YouTube conference with Jack, Elon, Cathie and some other random guy. The result?
EVERYONE is calling for a reversal and expecting bitcoin to push much higher and that's exactly what they wanted.
A coordinated conference to provide liquidity, retail is now filling big money's bags and wouldn't be surprised to see lower levels from here on out.
$30,888 - $31,111 would be an area of interest as it's a good place for market structure to prove itself, but also around the same area where 25x longs get liquidated.
Head and shoulders weren't designed to be printed so everyone and their mother see's it, that would be a textbook pattern and never usually happens.
I'll give it a few hours to play out and see if we get the right shoulder, if we do I'm sure we'll be trading below $32,000 by the end of today/tonight depending on how price action develops.