So i started noticing worrying factors when bitcoin was at 47k.
1) supply and demand-I noticed that majority of buyers were institutions i.e microstrategy and luna foundation. More on that in the idea linked below;Why instituions buying bitcoin worries me.
2) Trend- there was just no bullish momentum,twice on the dailies there was a bullish breakout but no juice to push prices higher;What to do if bears are in control of bitcoin.
3) A break of 35k; at this point i was fuck it let it run; is 30k possible for bitcoin
All three ideas are linked below but am closing majority of my shorts
1) supply and demand-I noticed that majority of buyers were institutions i.e microstrategy and luna foundation. More on that in the idea linked below;Why instituions buying bitcoin worries me.
2) Trend- there was just no bullish momentum,twice on the dailies there was a bullish breakout but no juice to push prices higher;What to do if bears are in control of bitcoin.
3) A break of 35k; at this point i was fuck it let it run; is 30k possible for bitcoin
All three ideas are linked below but am closing majority of my shorts
