Looking at the 4hr chart, uncertainty and short term drop to potential bottom of the channel is possible but...
While i expect a fall to the bottom of the channel eventually we are now currently supported by the point of confluence at 31850 and we still have a buy zone at the 31k level this has already been validated as the previous drop ended straight in it.
The sublime wave is opened and getting wider and we are losing money out of btc and spreading to the alts, however the VWAP and money flow tendencies are weak and the price can reverse at any moment.
What does this mean?
In this situation i would not short, or i would not enter a short right now, we need to remember that in the current hype situation a tweet can reverse a short in seconds, there are more money to be made on the upside.
While i expect a fall to the bottom of the channel eventually we are now currently supported by the point of confluence at 31850 and we still have a buy zone at the 31k level this has already been validated as the previous drop ended straight in it.
The sublime wave is opened and getting wider and we are losing money out of btc and spreading to the alts, however the VWAP and money flow tendencies are weak and the price can reverse at any moment.
What does this mean?
In this situation i would not short, or i would not enter a short right now, we need to remember that in the current hype situation a tweet can reverse a short in seconds, there are more money to be made on the upside.
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