We are currently in a support area, but I wouldn't want to be caught long here moving toward this weekend. I might watch for a short squeeze to the low-mid 7k range before a drop to 6600, possibly the 5900 area. I definately have a bearish bias looking at the chart and indicators, but I'm so fkn bullish on bitcoin its insane.
I follow alot of Peter Schiff, Erik Townsend, George Gammon etc types of people. So I am convinced we've started the beginning phase of the end of the USD.
DXY has been staying mostly within a channel (more or less) and trading has been calm. Over the last few weeks, we've experienced incredible vol pinging out of the channel both high and low
Based on today's...
I posted an idea a few days ago that led PA down to the teal 61.8 Fib at ~5100.
I had expected more of a scam wick situation up to 6400 and a sharp drop downward, so I am being cautious and haven't entered a position here yet. Will wait to see what the candle posts on the 2H. Daily looks very bullish. Depending on today's close, I may not enter this position....
Got my Bitcoin shorts on. Looking for current PA to top out around 6350/6400.
Will short around to the ~5150 area, which is the 61.8 fib. Will take profits there, but expecting price action to drop through lower.
Volume has been consistently dropping as well indicating further downward movement.
