Bitcoin is preparing for a strong correction.
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A few thoughts on the Bitcoin chart.
After a strong run of bitcoin, we can see the absorption of the crash of FTX $21,480 which is positive for the market.
From the technical side:
Bitcoin is forming a structure in the range of $20,800-21,200, it is not difficult to guess that this is a bullish sign and the probability that we will go through $22,000-22,250 is quite real. Those who are gaining aggressive shorts from the current ones or higher, be as careful as possible, the rally may continue.
I still hold a position in short BTC and ETH, hedging both positions in parallel, because before the correction, we may still see a run above the local resistance of $21,500.
If we talk about this takeaway, I would call it the effect of surprise, the manipulator can be said to have disappointed many people, but once again made it clear that you should not overestimate your risk management. I think that for me and for you in the future it will serve as a lesson.
A few thoughts on the Bitcoin chart.
After a strong run of bitcoin, we can see the absorption of the crash of FTX $21,480 which is positive for the market.
From the technical side:
Bitcoin is forming a structure in the range of $20,800-21,200, it is not difficult to guess that this is a bullish sign and the probability that we will go through $22,000-22,250 is quite real. Those who are gaining aggressive shorts from the current ones or higher, be as careful as possible, the rally may continue.
I still hold a position in short BTC and ETH, hedging both positions in parallel, because before the correction, we may still see a run above the local resistance of $21,500.
If we talk about this takeaway, I would call it the effect of surprise, the manipulator can be said to have disappointed many people, but once again made it clear that you should not overestimate your risk management. I think that for me and for you in the future it will serve as a lesson.
