As you may have noticed, now there is a division into two rigid and contradictory camps of traders. The first camp is the bears who are talking about $20k in bitcoin . The second camp is the bulls who are talking about the new ATH. But is there really a place for everyone on the rocket?
Now you can easily see that bitcoin has formed a bearish flag , which is a continuation of the downward movement. Technically - everything is like a textbook. The development of the flag leads to the very bottom - namely, $16k for 1 BTC. Do you want to go to the bottom of the rocket? Please have a seat. Here's a bearish flag for you, which is the very starting point when diving to the bottom. Take a short position and wait for the market to return profits. Everything is very simple, isn't it? There is only one BUT. The formation of figures that are a continuation of the trend should serve as a strong volume , which is NOT on the chart. But there are shortists who are happy to open a short position. Everyone sees this figure.
Why don't we fly to the crossroads right now? On the chart, I have marked several important levels, where the stop-losses of the longists are located. Alas, rockets are not sent with passengers. Both up and down. Therefore, updating these lows is essential to see the capitulation of volumes and form a bullish divergence on the daily and weekly time frames that will signal a final reversal.
Let's summarize.
I consider this figure as one big bear trap, corral of shortists for further upward movement and the formation of more weighty arguments for growth. Longists are ready for a haircut. First, we will pick up the stops of the longists, then we will go after the bears. As a result - a new maximum without passengers.
I will be glad for your support. Share your opinion in the comments!
Now you can easily see that bitcoin has formed a bearish flag , which is a continuation of the downward movement. Technically - everything is like a textbook. The development of the flag leads to the very bottom - namely, $16k for 1 BTC. Do you want to go to the bottom of the rocket? Please have a seat. Here's a bearish flag for you, which is the very starting point when diving to the bottom. Take a short position and wait for the market to return profits. Everything is very simple, isn't it? There is only one BUT. The formation of figures that are a continuation of the trend should serve as a strong volume , which is NOT on the chart. But there are shortists who are happy to open a short position. Everyone sees this figure.
Why don't we fly to the crossroads right now? On the chart, I have marked several important levels, where the stop-losses of the longists are located. Alas, rockets are not sent with passengers. Both up and down. Therefore, updating these lows is essential to see the capitulation of volumes and form a bullish divergence on the daily and weekly time frames that will signal a final reversal.
Let's summarize.
I consider this figure as one big bear trap, corral of shortists for further upward movement and the formation of more weighty arguments for growth. Longists are ready for a haircut. First, we will pick up the stops of the longists, then we will go after the bears. As a result - a new maximum without passengers.
I will be glad for your support. Share your opinion in the comments!