Final part of retrace, I believe btc will drop to around 5400-5500 but with a resting place of 6300 area with the 6500 area being a wick. I also think this will push up most of the alts against btc which will be start of alt season
As we can see we had a ''fake'' breakout around
7200-7300 ; There is still an option to see the bullish trend again. However, it can more likely a bulltrap. I will be honest; The low-volume telling me to stay away from the market for a while until I see a move to 7K so I can open a short on Bitmex.
This pattern is a bit like the same patterns 1 Year
ago when we...
Due to expiration of futures (December 27) and number of Longs, I suppose that "whales" will play SHORT GAME
But if we break out 7265$ we can try LONG
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If golden pocket will hold it will hit 8.2K for sure :)
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I suppose that "whales" will play SHORT GAME
REASONS FOR SHORT
- Expiration of futures (December 27)
- End of year and holidays, it means majority financial companies will change their crypto into USD
- Number of Longs
However, on some timeframes we can see Head & Shoulders pattern, that is why if we break out 7265$ we can try LONG
On my channel...
Defining whether the market is in a bullish or bearish trend at any given moment is relatively easy. but the ability to determine when a trend will revert is a completely different science. Of course there are a number of technical analysis principles and trading indicators that help do that on a micro level, but defining when the macro trend will change is a...