BTC - 4H Chart - Volume TANKED. Eat My Shorts?

BINANCE:BTCUSDT   Bitcoin / TetherUS
Looking at the BTC 4H chart. Just some quick thoughts.

First off, if we did have a down channel it looks like we're holding steady through it, or I just drew it wrong. That does happen. Unfortunately.

For example, thought I saw a head and shoulders yesterday on the hourly, turned out to be the left shoulder if it is a head and shoulder at all. We can't get them all right we just read charts and try to get as much knowledge as we can from them.

Volumes tanking and I have a sneaking suspicion we're in a Bart Simpson right now.

What is this guy talking about? Well I've linked a related idea at the bottom that explains all the fine details of the Bart. I can't do better than that so soak in some of that good stuff.

Basically, It's a manipulative move up from low liquidity to an area of higher liquidity (also known as a liquidity pool) in order to compel retail investors to invest, increasing liquidity in the market and allowing the manipulators to hit their targets. it tends to appear in big swing ranges, where people could think the price could go up or down, hence enticing more people to invest.

Like I said, I can't explain it as good as JamesRkaye does in the linked article, (also I don't really want to) so check that out if you want more info.

My reasons:
  • We're in a prime swing territory, just below 11k. Half the people I talk to seem to think we're going to 12k next week, the other half is shorting down to 9500-9200. And what's right in the middle?
    (Full disclosure, there's a short with my name on it out there. But I'm spread all over in all directions. Realistically speaking, I'd be making more if the market went up.)
  • Volume has absolutely TANKED on the osci ., even more a weekend. and low Volume = ??... you're getting it now.
  • We've posted higher lows. Seems like a weird thing to bring up as a negative sign but Bart's tend to do this..
  • I've read a couple articles today pointing to this move up being a sign we're back in the bull cycle for BTC . If it is a Bart, the bloggers are baiting the trap.

MACD is showing shrinking deviation with a potential bear cross coming in. On a healthy trajectory right this moment though!

is on the border of overbought. Not terrible but not good in these circumstances. Remember the end direction of Bart is down.

EMA 100 is our current support level . We just saw a move back up from below to this level.

If you see a potential Bart, don't buy into it. If we see a convincing move past the top liquidity barrier I'd say the coast is clear but at that point how much headroom do you have left before the next correction?

I don't see much money being made here in a long position without taking on the risk of investing in a potential Bart. If you want to do that, that's up to you. I'm just sharing ideas.
Hate to say I told you so..

Come hang out with me on telegram, it's free and I won't be too mean too mean to you:

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