Hello, I am publishing my idea on BTCUSDT pair, 4h time frame. Last prediction I said BTC must not close under 40-42k or will turn the market upside down. And it actually did it. And it went straight to 30k. Something that I did not want to happen but happened. Now we are in a phase when we are uncertain. But for me, at this specific moment, when many people think BTC will go long, I am on the side in which I think it got room for another last and final drop. However, there are two psychological scenarios here, which I am gonna mention both.
FIRST SCENARIO- I put it in a short position because of the fact that I see room still for a drop, until it gets stable. The instability of BTC these days but also it does not have big power for a move to that resistance area of 40-42k, which previously was a good support. Now market feels scary, and I see it drop for one last time between the 25k-28k area. It can make a long wick too, but for me it will go near that area to bounce off the support and form a strong area of accumulation and potential fast reversal to higher levels.
SECOND SCENARIO-The only way it can go long, is to break 42k and keeps staying there for a couple of days. It is very hard to go all the way to that psychological resistance, as it needs to be very strong in all side. Too much FUD around, and that is why it is finding it hard to beat that area of resistance. I can't see it break it in a couple of days, unless it gains the power it needs.
For me, as I am not a financial advisor, is, if you fear the market, stay away. I would recommend you to do smart trading with your trading style and to be careful with the risks you take. HODL. Everything will get together very soon. Hope you enjoyed my idea, and you are free to comment. :)
FIRST SCENARIO- I put it in a short position because of the fact that I see room still for a drop, until it gets stable. The instability of BTC these days but also it does not have big power for a move to that resistance area of 40-42k, which previously was a good support. Now market feels scary, and I see it drop for one last time between the 25k-28k area. It can make a long wick too, but for me it will go near that area to bounce off the support and form a strong area of accumulation and potential fast reversal to higher levels.
SECOND SCENARIO-The only way it can go long, is to break 42k and keeps staying there for a couple of days. It is very hard to go all the way to that psychological resistance, as it needs to be very strong in all side. Too much FUD around, and that is why it is finding it hard to beat that area of resistance. I can't see it break it in a couple of days, unless it gains the power it needs.
For me, as I am not a financial advisor, is, if you fear the market, stay away. I would recommend you to do smart trading with your trading style and to be careful with the risks you take. HODL. Everything will get together very soon. Hope you enjoyed my idea, and you are free to comment. :)