If you follow me you’ll remember I posted a warning about something like this happening on the 25th of may.
My fear is that there’s very little standing between that CME gap and $12k, the market did not leave a lot of stops on the way up. They way down could be just as dramatic and violent.
I saw a lot of people calling for longs and $100k, Internet gurus speaking in definite absolutes, while I was warning of clear weakness. This wasn’t some miraculous call, the market has been screaming short for 3 months I just trade what I see.
I don’t care what you call it but this currently trend is bearish, I would only change my mind above $40k as that is now the previous high (where I caught the short on my last trade).
There’s probably a lot of confusion in retail traders right now, over leveraged noon boys are getting massacred. A lot of gains are being given back to the market because of greed.
As I always say, no one ever went broke taking profits. There’s no harm in sitting aside and studying how this market behaves. There’s a lot to learn from this cycle, I have given a lot of ideas that could be helpful in the near future.
If you go back to my posts in early December 2020 you’ll see we are going through a similar cycle.
My fear is that there’s very little standing between that CME gap and $12k, the market did not leave a lot of stops on the way up. They way down could be just as dramatic and violent.
I saw a lot of people calling for longs and $100k, Internet gurus speaking in definite absolutes, while I was warning of clear weakness. This wasn’t some miraculous call, the market has been screaming short for 3 months I just trade what I see.
I don’t care what you call it but this currently trend is bearish, I would only change my mind above $40k as that is now the previous high (where I caught the short on my last trade).
There’s probably a lot of confusion in retail traders right now, over leveraged noon boys are getting massacred. A lot of gains are being given back to the market because of greed.
As I always say, no one ever went broke taking profits. There’s no harm in sitting aside and studying how this market behaves. There’s a lot to learn from this cycle, I have given a lot of ideas that could be helpful in the near future.
If you go back to my posts in early December 2020 you’ll see we are going through a similar cycle.
