SHORT BTC USDT - Smart Hands Downloading for 40K
BTC USDT Finished the target of 62K, expected to touch 65K but many have taken the profits off the table.
The negative divergences are very clear. The stiff area of supports have now turned into resistances.
1st Target is 47K-45K, If 45K is breached on a 1 hour TF. We can see 38K appearing.
Now compare this with my previous stats, 99% of my calls have turned accurate. Last time we went long from 47K till 62K (Expected 65K, but 62K is also not a bad area).
Having said that, toooo much of euphoria has been built into BTC with people like POMP coming to TV to do a daily commercial advt to promote BTC...thereby many retail are trapped at the tops.
Big institutions who have entered BTC at lower levels will hold nerves for 1 day and then give a closer look the next day, so does the retail in expectation of a next person to come and buy from them.
While BTC bulls busy in spreading news that the COVID stimulus package average American will buy BTC (It is like a Joke). First they will buy essentials to survive and buy a stock or ETF which can give good returns over the next few years. Rather than spending on BTC 0.001 Coin. Which can easily depreciate 20-25% first before even appreciation.
Therefore considering all aspects of huge huge positive marketing, plus weakness on 4 hour chart, trend line breakdowns - I expect BTC to land around 45K-38K band in the next 1 week.
As always use SL and do not trade more than 3-5% of your capital in each trade.
The negative divergences are very clear. The stiff area of supports have now turned into resistances.
1st Target is 47K-45K, If 45K is breached on a 1 hour TF. We can see 38K appearing.
Now compare this with my previous stats, 99% of my calls have turned accurate. Last time we went long from 47K till 62K (Expected 65K, but 62K is also not a bad area).
Having said that, toooo much of euphoria has been built into BTC with people like POMP coming to TV to do a daily commercial advt to promote BTC...thereby many retail are trapped at the tops.
Big institutions who have entered BTC at lower levels will hold nerves for 1 day and then give a closer look the next day, so does the retail in expectation of a next person to come and buy from them.
While BTC bulls busy in spreading news that the COVID stimulus package average American will buy BTC (It is like a Joke). First they will buy essentials to survive and buy a stock or ETF which can give good returns over the next few years. Rather than spending on BTC 0.001 Coin. Which can easily depreciate 20-25% first before even appreciation.
Therefore considering all aspects of huge huge positive marketing, plus weakness on 4 hour chart, trend line breakdowns - I expect BTC to land around 45K-38K band in the next 1 week.
As always use SL and do not trade more than 3-5% of your capital in each trade.
Comment:
Short was posted at 58K, it did 53.5K, still new hands came to burn themselves they will take it down to 40K
Comment:
BTC is now in a sideways move....as Bulls unable to decide to hold or sell and take home profits and bears waiting for a big whale to dump. Either ways sooner it is expected to come towards 51K....only a 24 hours close above 59K will change the game to bulls...till then wait and hold shorts
Comment:
SL near to 59K breached, Close short