Why The Reaction At 30k For Bitcoin Will Be So Important
Sometimes Events Happen That Create A Change of Behavior In the Market So Dramatic It Creates Panic Selling or even changes a belief... Think Covid 19 reaction and many more.
Or a market gets suppressed and manipulated like the Silver Suppressing Scandal that J.P Morgan took the slap for in 2020.
Even when not expected, its good to be prepared for the unexpected, especially if reliable technical analysis could support such an event happening.
That brings me to entertaining a bearish macro count for Bitcoin that I've created a trading plan for if it so chooses to unfold.
Many traders right now in the bitcoin/crypto space are most likely not using stop losses with the tunnel visioned expectation that the moon is the next target, so.. at what price levels would individuals that buy at 20k, 22k, 25k, and even 30k start to dump their losses.
At what level would you start to believe that 5k is possible.
As traders we should all have levels of invalidation for our trade setups and if you don't it's likely your emotions will make that decision for you.
So, in recognition of "expecting the unexpected" here is a realistic scenario for BTC according to this analysis. It will all just depend on the reaction we see at 30k and if invalidation levels that would spark further selling are protected.
**IF YOU HAVEN"T SEEN MY BTC COUNT TO 100K CHECK IT OUT AS A RELATED IDEA BELOW**
While you're at it drop a comment and let me know what your invalidation level is if bitcoin starts to correct back too much. If you'd just sit through it then say that as well. In the crypto space I know there are some with extremely strong hands and plenty of weak ones.
To Your Succes,
Schyler
Or a market gets suppressed and manipulated like the Silver Suppressing Scandal that J.P Morgan took the slap for in 2020.
Even when not expected, its good to be prepared for the unexpected, especially if reliable technical analysis could support such an event happening.
That brings me to entertaining a bearish macro count for Bitcoin that I've created a trading plan for if it so chooses to unfold.
Many traders right now in the bitcoin/crypto space are most likely not using stop losses with the tunnel visioned expectation that the moon is the next target, so.. at what price levels would individuals that buy at 20k, 22k, 25k, and even 30k start to dump their losses.
At what level would you start to believe that 5k is possible.
As traders we should all have levels of invalidation for our trade setups and if you don't it's likely your emotions will make that decision for you.
So, in recognition of "expecting the unexpected" here is a realistic scenario for BTC according to this analysis. It will all just depend on the reaction we see at 30k and if invalidation levels that would spark further selling are protected.
**IF YOU HAVEN"T SEEN MY BTC COUNT TO 100K CHECK IT OUT AS A RELATED IDEA BELOW**
While you're at it drop a comment and let me know what your invalidation level is if bitcoin starts to correct back too much. If you'd just sit through it then say that as well. In the crypto space I know there are some with extremely strong hands and plenty of weak ones.
To Your Succes,
Schyler
Comment:
Always good to be prepared, but this count has drastically decreased, but not 100% invalidated just yet as the expanded pocket is a range between 30k and 40k, and we're currently at 40k, which is the extreme end of this count. With that being said, the climb has been a bit impulsive to lean this way anyhow. But if we can push through 40k here then we should have 100% confirmation of bull run in regards to this outlook. I wish profit upon you all. :)
