Lets see how many people learn from what just happened a few days ago.........because its happening again. Exactly the same pattern.
There is one bullish sign in all of this: $120m USDT just got printed to "replenish inventory".
However huge bear signs here: 55-60%+ of open positions at $200k+ size are shorts. Usually market balance is when 40-45% are shorts. This is a big imbalance.
This counts binance, bitmex, bitfinex, okex, and bybit however....but thats the majority of the market.... (I dont have sources for the others, do you? post in comments)
See you all at 6100.
There is one bullish sign in all of this: $120m USDT just got printed to "replenish inventory".
However huge bear signs here: 55-60%+ of open positions at $200k+ size are shorts. Usually market balance is when 40-45% are shorts. This is a big imbalance.
This counts binance, bitmex, bitfinex, okex, and bybit however....but thats the majority of the market.... (I dont have sources for the others, do you? post in comments)
See you all at 6100.
Trade active:
TP1: 6265
TP2: 6115
TP3: 5855
SL: 6969
(6958 is the break bull point....giving it a little extra room for possible fakeout wick)
super low R/R trade!
can reverse at SL to buy long.
risking ~$70 per/btc on 5x leverage. currently 6btc short will add 10btc when drops below 6800.
TP2: 6115
TP3: 5855
SL: 6969
(6958 is the break bull point....giving it a little extra room for possible fakeout wick)
super low R/R trade!
can reverse at SL to buy long.
risking ~$70 per/btc on 5x leverage. currently 6btc short will add 10btc when drops below 6800.
Trade active:
the 6784 point is the critical horizontal break point.
closely watch this.
it has already produced one 1h bounce and looks like it might produce another 1h bounce.
if it cant break down here, it could bounce up, and you should close your short.
closely watch this.
it has already produced one 1h bounce and looks like it might produce another 1h bounce.
if it cant break down here, it could bounce up, and you should close your short.
Comment:
Trade active:
raise your SL to 6832
doubt you will get wicked out there, and it will preserve profits
doubt you will get wicked out there, and it will preserve profits
Comment:
we broke 6784!
buy more shorts on the slight retrace
see you at 6500 and more likely 6100 area!
i will exit 50% of shorts at 6500 area and re-short on bounce if things look good
buy more shorts on the slight retrace
see you at 6500 and more likely 6100 area!
i will exit 50% of shorts at 6500 area and re-short on bounce if things look good