racethehare

BTC finally showing its hand. Bearish wedge with decreasing vol

Short
CURRENCYCOM:BTCUSD   Bitcoin / U.S. Dollar
Previous call on the hard ceiling at $10,168.

Market is so "confused" right now, folks changing opinions depending on the direction of the wind. That's a really bearish fundamental indicator.

Think twice about trading LONG at the TOP of the market. All long trades here are 100% FOMO. If you were long, it should have been at 7k or lower...

Short position has an easy stop loss, and a definitive structure. I look forward to discussion in either direction. (link at bottom from previous correct call with hard ceiling)
Comment: coincidence?

Comments

This is what I will be following in the BTCUSD, interesting pair
+1 Reply
racethehare VincePrince
@VincePrince, good to know
Reply
Agree. We are definitely completing the 5th of a Wolfe Wave. 8k is inevitable as the wave shows a drop to that point also aligning perfectly with the .618 retrace of the impulse leg from 7-10k which happens to rest on the 200EMA.

Bulls are delusional right now and it shows.
Reply
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