We're at a zone for a lot of trend reversal possibilities. Many indicators show that we can flip to a bullish trend, including a potential Inverse H&S Patter on 1D StochRSI, floored 4H StochRSI, multiple Bullish Divergences on higher time frames, J-Hook Reversal Candlestick patterns forming on 4H, Ichimoku Cloud Support about to hit on 4H, Fib Retracement 0.382 Level hit, 4H TD9 count soon ... also... lower timeframes showing potential reversal patterns such as a potential reversal Broadening Wedge, or a Falling Wedge being made if it drops a bit lower. These 2 short-term reversals can lead to a bigger Inverse Head & Shoulders ORRRR a larger Diamond Reversal (aka Bart Simpson) pattern being made.
Funding has also dropped and gone away for shorts which means there will not be as much sentiment towards keeping shorts open.
My market sentiment tool ( Ask me about it via Twitch or my Discord, I cannot post links here ) shows that Longs are being accumulated while shorts stay flat.
My position : >> Keeping short open to catch funding. >> Opening longs in Futures as a hedged position.
Let's make it simple - It will drop to 8900 before it tries to break above 10k again.
TheWolfofPoloniex
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@Djukic.nebojsa, Why do you say that? I doubt it's dropping to 8900.
djukic.nebojsa
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@TheWolfofPoloniex, Not sure, It seems that big players are leaving the boat and retail traders can't push the price higher. 10k is sharply rejected, it should not stop just here. Many indicators shows overbought on higher time frames, there are bearish divergences as well