Hi everyone,
this is how I see situation right now about Bitcoin and potentional future of it.
So, there are only 2 options, right?
Either it goes Up or Down.
I focus only on Daily and 4hr, bigger picture trend.
Up's are: 1,1% and 2,1% "immidiete" long rewards after we break resistance at 47k where we are right now. With potentional to going back to 50k after we are able to break stronger resistance at 48k which is around 6%
Downs are: We are getting refused NOW at 47k or potentionally at 48k since its stronger resistance right now with our targets: re-test of 45.7k at 2,2%, next target around 43k aprox. 7.3%, around 40k 15% ..
On bigger picture we are in downtrend for a while. This cant be argued since its going down after we reached ATH.
And if we look On Daily we can see that we are reaching for these bottoms. From Mathematical standpoint we need to do less work to reach highier rewards then reversed and so thats why Im biased more to SHORT the market then "chasing" pumps.
With thats said, its still "quite" possible that we will try reach for old high at 48.2(3)k before we will got another try to get us lower to those mentioned prices/targets. And thats why I will be rather doing Short at 48.2(3k)- since its from risk/reward/trend ratio more "reasonable" with closing trade as "failed" if it sucesfully break 48.(8)6k resistance and hold it there as "support" (aprox. 0,7% Loss -IF you are super "tight" with your trade) and reconsidered chance of "change of trend" at least for Weekly bias.
this is how I see situation right now about Bitcoin and potentional future of it.
So, there are only 2 options, right?
Either it goes Up or Down.
I focus only on Daily and 4hr, bigger picture trend.
Up's are: 1,1% and 2,1% "immidiete" long rewards after we break resistance at 47k where we are right now. With potentional to going back to 50k after we are able to break stronger resistance at 48k which is around 6%
Downs are: We are getting refused NOW at 47k or potentionally at 48k since its stronger resistance right now with our targets: re-test of 45.7k at 2,2%, next target around 43k aprox. 7.3%, around 40k 15% ..
On bigger picture we are in downtrend for a while. This cant be argued since its going down after we reached ATH.
And if we look On Daily we can see that we are reaching for these bottoms. From Mathematical standpoint we need to do less work to reach highier rewards then reversed and so thats why Im biased more to SHORT the market then "chasing" pumps.
With thats said, its still "quite" possible that we will try reach for old high at 48.2(3)k before we will got another try to get us lower to those mentioned prices/targets. And thats why I will be rather doing Short at 48.2(3k)- since its from risk/reward/trend ratio more "reasonable" with closing trade as "failed" if it sucesfully break 48.(8)6k resistance and hold it there as "support" (aprox. 0,7% Loss -IF you are super "tight" with your trade) and reconsidered chance of "change of trend" at least for Weekly bias.