Recently we been playing the long game, yet is it time for people to suffer? Longs have dumped today and shorts are recovering drastically, yet bitcoin trends sideways. On market close bitcoin pumped to 11300 a target I had as a mid ground or fair value of a pump to these levels, yet at the same time we created a cme gap. I know we didn't fill the last one, yet since we are so close to it wick down the candle isn't out of the realm of possibilities.
News
-White house released a new package of 1.8trillion dollars, yet over the weaken Nancy rejected it (probably political so the dems can run on republicans not giving enough). Has the market factored in no stimulas? Well no it factored in when trump said no stimulus, yet was greeted with we will try next week. WIth Nancy rejecting the new one it is possible on market up we could see the dump.
TA
-Elliot wave as you can see on the pump looks like a classic pump of the 1,2,3,4,5 elliot wave with a correction of a 1,2,3 or a,b,c on how elliot waves work.
-MACD looks like it was to turn over bullish
-50EMA had held us at support, yet the range of 11272 is our support line that we got inchs away.
-RSI is heading to overbought and is in a downtrend. If RSI can't hit 63.88 or hold above 48.50 we are bearish.
Final thoughts
Taking a small short now may be the play atm for a correction, yet it is uncertain if you want to take the risk if you believe the global markets don't give a dam or you don't care about cme gaps. I'm taking a small portion of my btc to take that risk with a low risk, yet high reward play.
News
-White house released a new package of 1.8trillion dollars, yet over the weaken Nancy rejected it (probably political so the dems can run on republicans not giving enough). Has the market factored in no stimulas? Well no it factored in when trump said no stimulus, yet was greeted with we will try next week. WIth Nancy rejecting the new one it is possible on market up we could see the dump.
TA
-Elliot wave as you can see on the pump looks like a classic pump of the 1,2,3,4,5 elliot wave with a correction of a 1,2,3 or a,b,c on how elliot waves work.
-MACD looks like it was to turn over bullish
-50EMA had held us at support, yet the range of 11272 is our support line that we got inchs away.
-RSI is heading to overbought and is in a downtrend. If RSI can't hit 63.88 or hold above 48.50 we are bearish.
Final thoughts
Taking a small short now may be the play atm for a correction, yet it is uncertain if you want to take the risk if you believe the global markets don't give a dam or you don't care about cme gaps. I'm taking a small portion of my btc to take that risk with a low risk, yet high reward play.
