I know everyone is very optimistic and make predictions to 50K+ etc but unfortunately, bearish scenarios need to be projected and anticipated to get ready if they occur (doesn't mean they will, but being prepared is the best way to avoid losing money). That being said :
Nice AB-CD pattern formed. If price goes below 7 days MA, we could see, not only a retracement, but a correction as well. Entry point would be between B & D with a SL @ 52.7K TP1 around 34K Crossing the 50 MA could lead to TP2 +/- 20K
Upcoming H&S... left shoulder and Head are forming..
shirocrypto
⋅
@mattiheju, Thanks for your comment. I agree on H&S. AB-CD pattern is still valid tho. D moved to new ATH, levels and targets need to be adjusted as well, but slightly similar to previous projection.
kraylonn
⋅
I agree, but your stop should be tighter, 50188 or similar is definitely enough, and waiting until 44k to short is not worth it R:R wise IMO. I shorted 49,666 =)
B4Baggio
⋅
Absurd risk on this short, but I agree with a mid term bearish scenario, probably just after breaking 50k. That bearish divergence is looking great.
shirocrypto
⋅
@B4Baggio, I agree, this is why I called it the most improbable short ;)
kudlatypj
⋅
Long term yes, short term max 38-42
shirocrypto
⋅
@kudlatypj, yeah, short term we can find support at previous ATH, indeed