Pretty self-explanatory title, this hypo represents a possible 9.4-.500 range rejection as an alternative to the "Parabolic Moonboi Move" possibility. Lots of talk that bitcoin is about to explode up, the contrarian in me wants to short lol. (Disclaimer: I am currently LONG but very open to change).
Might be time to buckle into our seats and blast off like all the youtube moonbois would have us believe.
Quick Edit: NOTE: This is a MACRO picture, not a high frequency trade motivation and I expect dips on the short term.
We can see a crest of daily candles forming against a resistance level, typically I'd prepare to short this formation (and I still might short-term), but I added arrows to contextualize the directional momentum these previous crests have formed in. June 19's crest broke upwards on an extended run (circled in green), could be on the verge of the same exact thing....
We hit my short price target for a long entry but I'm not sure if I trust it, here's a first draft of one idea. Tryna look at this from all angles.
Everyone was hyped for the BTC Futures launch pump and it was a complete dud. Now we're all hyped for the halving pump, what if that's a dud too? (followed by a much later rally)
Feb is typically bearish.
My bet is a quick dump to 7.7ish to shake out the longs, then a pump to shake out the shorts. Same pattern happened twice now on the hourly. Not sure if I'll enter trades off this projection though. Will watch to see how this plays out, could absolutely dump hard to 6k before seein a massive rally.
Currently in descending triangle? hmmm.
Here's an update for anyone interested. For everyone who shorted 10k with me, we're right where we wanna be for retirement March 2020 (lmao). Anyway, we're in this consolidation channel imo, threw in a some extra doodles for ya'll see dif scenarios. A total collapse to 3k would be absolutely beautiful for accumulation, but it's hiiighly unlikely imo.
Bakkt launch was obviously already priced in, THE UPCOMING HALVING IS NOT!!!
NOTE: Long-Term trade, not for HFT trading. Anyway, Was hoping we'd get to 7.2-7.7ish, we still might get a small dip but that window wouldn't stay open very long if we get the chance. IGNORE FUD, GET READY TO LONG.
If you've seen my previous posts, here's a quick recap where we're...