What a nice price action it is. Btc went up from around 15k, just when all the crypto influencers, noobs and delusional moonboys were sure it would go lower to 10k. It drove up exactly to the last high to liquidate in. And that combined with the etf hype. Procures everybody thinks this is such a good thing for btc. It might be, but definitely not for the price....
What a wonderful price action. Exactly how I wanted to see it. Unfortunately price didn’t hit my short order at 49k by a couple hundred dollars.
I’ve set 2 white lines to the downside.
Line 1 is the technical target I case price is going to play out like a bearflag.
Line 2 is the technical target from the head and shoulders formed earlier.
I see some levels...
As you can see price exactly followed my second arrow. Price action was good enough for me to go short. It perfectly respected my level wich also was a fib level. In this new picture I have only adjust the Chanel to the new points. And adjust the Fibonacci.
•The first green dot is where I will start to take profits.
•The second green dot is actually where I...
•Again some resistance has not had a retested.
•Straight upwards means for me downside will come early or late.
•We are at ress and we just liquidated the last 2 highs.
•Still think we need to see at least 18k
•Feeling the greed so I closed 75% of my long since around 37600$ in case this a dead cat bounce.
Please do with this whatever you want, no financial advice
I’m currently selling small parts because I think we can go way lower. When the upper arrow may come and the price action is right I might also look to take a short. We’ll see.
Reasons:
-trendline didn’t had a retest
- market structure broke bullish so a channel is can very good be formed
-simple fib retracement
-broken resistance didn’t had retests
no...
Feel like we could get a bulltrap soon, expecting crypto to go lower over all, but there are some supports broken wich didn’t had a retest as resistance. If we go up this way and everybody starts to give price projections for ath’s I will know for sure we are going to dump again. Do with this whatever you want it’s just an idea
