BTC finally shows some potential big movements recently. Based on the current price action and funding rate analysis, more and more traders are becoming bullish, short trader has been liquidated last week or so, they are beginning to tuning bullish. Bulls are keeping buying the small dips.
Since the price broke the 12000 levels and has not retraced yet, I assume the measured move will at least bring us to the 14000-14500 area, which I will start taking profits.
We have to remember, when the retail investor and trader feel bullish, we as a professional trader has to think the opposite, take some profit off the table based on the price action is what you should do and learn.
Since the price broke the 12000 levels and has not retraced yet, I assume the measured move will at least bring us to the 14000-14500 area, which I will start taking profits.
We have to remember, when the retail investor and trader feel bullish, we as a professional trader has to think the opposite, take some profit off the table based on the price action is what you should do and learn.
Comment:
In 4Hr you can clearly see that BTC is in a tight rising channel. In the meanwhile, people are bearish on BTC... How to trade it? Buy when the price touches the lower channel and sell the top. Easy money,
formal education makes a living, self-education makes a fortune!
