In previous idea we noticed the bearish divergences, which we used to our advantage and succesfully shorted BTC from 7.7 to 7.4k
Beware that BTCUSD is changing it's previous market character right now, and there's a possibility that this is the bottom for BTCUSD for now and perhaps the beginning of a new bullrun.
However, before we can even consider a new bullrun we need to see a large volume change to support an uptrend beyond 8.8k
Notice how we broke the downtrend, retested and pierced right through.
This is good bull evidence for this new idea, where we look to sell our long position 8150, and reenter at .382 fib retrace @7750 USD to finally close this long trade around 8.8k
Everything you need to know, should be on the chart.
Best of luck.
Beware that BTCUSD is changing it's previous market character right now, and there's a possibility that this is the bottom for BTCUSD for now and perhaps the beginning of a new bullrun.
However, before we can even consider a new bullrun we need to see a large volume change to support an uptrend beyond 8.8k
Notice how we broke the downtrend, retested and pierced right through.
This is good bull evidence for this new idea, where we look to sell our long position 8150, and reenter at .382 fib retrace @7750 USD to finally close this long trade around 8.8k
Everything you need to know, should be on the chart.
Best of luck.
Trade active:
BTC is setting up for a massive short squeeze.
Roughly 2.5k Margin shorts has recently opened, which anticipated new lows.
At this point it's highly unlikely we'll see a new low, before we see 8k.
Most will be forced to close position or liquidated.
Roughly 2.5k Margin shorts has recently opened, which anticipated new lows.
At this point it's highly unlikely we'll see a new low, before we see 8k.
Most will be forced to close position or liquidated.
Comment:
Here's your pullback to close shorts / enter long
Comment:
Touched .382 fib perfectly, and retraced instantly. Very bullish.
now we look for next leg up. Perhaps something like this:
now we look for next leg up. Perhaps something like this:
Comment:
Rough waters, but still on track.
Bullish bounce off .618 as we'd like to see.
Likely 8150 within 48 hours.
Bullish bounce off .618 as we'd like to see.
Likely 8150 within 48 hours.
Comment:
oh and, notice the bullflag ;)
Measured flag pole target is exactly at the top resistance of previous rising wedge. It's very likely to retrace from here and then do the final break to 8150.
Measured flag pole target is exactly at the top resistance of previous rising wedge. It's very likely to retrace from here and then do the final break to 8150.
Trade closed manually:
Closing long position here, a volume breakout is close and the direction appears to be down. It could be the final big push towards 4k that we begin now.
I highly suggest to hedge your crypto holdings at this point .
I highly suggest to hedge your crypto holdings at this point .