Well, on Bitstamp, the stakes of the longes were knocked out and driven into shorts that were waiting for the breakdown. Apparently, the rest of the stock exchanges didn't find it profitable, so this wick isn't there yet.
Five exchanges have different lows. That makes me think the downward movement isn't over.
They're pushing the price down.
It may well be that there's still going to be a decline to $90000-8800.
Bitstamp 9100$ local minimum.
Bitmex local minimum $9273
Binance local minimum 9324
CME 9330$ local minimum.
Coinbase $9294 is the local minimum.
The price may go lower, but this transaction will be very risky. Yes, there was an impulse, yes, it was strong and it seems that it will go even lower, but the market structure is not broken, the range is not broken, and most likely many people are either already in shorts or waiting for a rollback to the local level to get into the shorts. The deal is going to be bad and the stop is likely to be knocked out, so it is better not to fly into the shorts. Personally, it's too risky for me because we're in the middle of a mini-range.
Push ❤️ if you think this is a useful idea!
Before to trade my ideas make your own analysis.
Thanks for your support!
Five exchanges have different lows. That makes me think the downward movement isn't over.
They're pushing the price down.
It may well be that there's still going to be a decline to $90000-8800.
Bitstamp 9100$ local minimum.
Bitmex local minimum $9273
Binance local minimum 9324
CME 9330$ local minimum.
Coinbase $9294 is the local minimum.
The price may go lower, but this transaction will be very risky. Yes, there was an impulse, yes, it was strong and it seems that it will go even lower, but the market structure is not broken, the range is not broken, and most likely many people are either already in shorts or waiting for a rollback to the local level to get into the shorts. The deal is going to be bad and the stop is likely to be knocked out, so it is better not to fly into the shorts. Personally, it's too risky for me because we're in the middle of a mini-range.
Push ❤️ if you think this is a useful idea!
Before to trade my ideas make your own analysis.
Thanks for your support!
Trade closed: target reached:
Trade closed: target reached:
update
