Technical Idea for Bitcoin:
- Bitcoin is in a down trend.
- Bitcoin had major stopping volume at under 43k, and is showing signs of consolidation.
- Broader markets showing signs of consolidation.
- Bitcoin will likely have swing up to 51k to the top of the range, and overshoot to 55k-58k through the MAs to fill the gap, to the value area at 57k.
- Should momentum fade at this point, it will be a high conviction short signal IMO.
GLHF
- DPT
- Bitcoin is in a down trend.
- Bitcoin had major stopping volume at under 43k, and is showing signs of consolidation.
- Broader markets showing signs of consolidation.
- Bitcoin will likely have swing up to 51k to the top of the range, and overshoot to 55k-58k through the MAs to fill the gap, to the value area at 57k.
- Should momentum fade at this point, it will be a high conviction short signal IMO.
GLHF
- DPT
Comment:
Should price get over 52k, there will be quite the squeeze... BTC will drop as fast as the short squeezing will allow.
Trade active:
BTCUSD short capitulation to come:
Trade active:
Something interesting to observe:
China "bans crypto": www.reuters.com/arti...siness-idUSL2N2N510T
Price suggests that this may have been frontrun by insiders. If a short squeeze does occur after the news is dropped on retail, we will see a good example of headline bait.
China "bans crypto": www.reuters.com/arti...siness-idUSL2N2N510T
Price suggests that this may have been frontrun by insiders. If a short squeeze does occur after the news is dropped on retail, we will see a good example of headline bait.
Order cancelled
