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This looks like a classic short based on Richard Wyckoff Distribution Schematic. Twitter and everyone is so bullish and Fomo'ing. Funding pays shorts. Long to Short Ratio favors Shorts. Maybe some more up but looks like the big picture shows a massive dump coming in the near future... Beware and trade smart!
Comment:
BTC went up as I thought possible, but now the dump may be happening soon. Doji candle was printed on yesterday's daily close and looks like a double top pattern may be in the process. Maybe some more consolidation but I still stick to my original idea and think a big dump will happen in the near future.
Comments
Thank you for your time!...Do you support the theory of the bubble burst echo? and the possibility BTC goes to 2k again?
Reply
@ang3lcop, hi and thanks for your message. I am not familiar with the bubble burst echo theory, however I do believe the economy will still suffer greatly due to Covid19 and there will be a domino effect of negative news about businesses collapsing. This will in turn have an impact on BTC going to 3k and very possibly lower in my opinion.
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