Upward move finished, back to BTC falling.
Hi Traders,
Well yesterday we scored an massive 9% swing on the ETH trade/slightly lower for BTC but still very good!
Now we are seeing that the higher TF's are not reacting to the brief upward push, makes me think its just a fake-out/SL hunt... Was always possible.
These 24hours are vital, we have EURO interest news and also another FED speech - combined with the energy crisis in Europe. Bulls are clasping at straws for anything to hold price up now.
Looks most likely that BTC has entered the sinking ship phase of the downward move, meaning consistent lower highs and lower lowers into a falling knife.
The technicals are also not reacting as positively as we would hope for in an upward move, certainly looks like the demand for risk assets is falling sharply as economic concerns grow.
NEW TRADES
BTC SHORT/ETH SHORT
BTC - ENTRY 19200 OR HIGHER
ETH - ENTRY 1615 OR HIGHER
SL BTC 19.9k
ETH 1670
Looking to hold these trades open if possible and gradually take profit on the way downward.
Goodluck,
Asset Mastery
Well yesterday we scored an massive 9% swing on the ETH trade/slightly lower for BTC but still very good!
Now we are seeing that the higher TF's are not reacting to the brief upward push, makes me think its just a fake-out/SL hunt... Was always possible.
These 24hours are vital, we have EURO interest news and also another FED speech - combined with the energy crisis in Europe. Bulls are clasping at straws for anything to hold price up now.
Looks most likely that BTC has entered the sinking ship phase of the downward move, meaning consistent lower highs and lower lowers into a falling knife.
The technicals are also not reacting as positively as we would hope for in an upward move, certainly looks like the demand for risk assets is falling sharply as economic concerns grow.
NEW TRADES
BTC SHORT/ETH SHORT
BTC - ENTRY 19200 OR HIGHER
ETH - ENTRY 1615 OR HIGHER
SL BTC 19.9k
ETH 1670
Looking to hold these trades open if possible and gradually take profit on the way downward.
Goodluck,
Asset Mastery
