Stop loss will be definitely be hit unless its a mental one. They move it a few hundred up and down just for that. String support is still mid 8k's.. This fast and furious drop was just a bull trap.. They are buying but not for others to make any money.
Jack-Strainer
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@alienteck see I don’t think it will be hit.... long around 9190-9165 and keep your stop loss tight from 9145-9120. If 9000 is broken on the weekly that’s when we see a real fall
alienteck
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low was $9020.. Your stop loss was $9140.. in fact it was under 9100 a dozen times in the last 2 weeks.. unless all this is in your mind.. I just keep a tab and buy or sell when I see it reach a level, after a few times my stops got hit which were just wicks to take them..
Phi-Deltalytics
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Thanks for sharing!
We are actually on the bearish side for the short-term.
The current low market interest might lead to a prolonged correction, and the more times we fail at breaking up, the more bearish BTC looks for the short-term. CME institutional traders’ net position remains similar to the level in mid-February 2020 (the BTC price peak before "black Thursday" 40% drop), and it has been dropping significantly since BTC attempted 10k. For a short-term bullish scenario to work, we would like to see the institutional net positions reversing to an increasing trend.
What do you think of our setup below?