this is a simple classic TA view. it's necessary to see "at least" one big weekly candle. this is when you can understand the pivot is formed. don't try to be smart and sell the TOP TOP price. it wouldn't work for btc. wait for turning and pullback.
In every fake phase there is similarities :
- Pervious Trend was massive
- Classical Technical analysis patterns are forming in HTFs
- Difficult to understand what "THEY" are doing (so what it will happen in result)
- Lots of opposites in patterns, indicators reports and a gap between BUY scenarios and SELLs. 2 sides are probable to happen.
- A SHARP move will...
I believe it's a decent short setup. My stop loss will be above "KEY" level. it should not touch there if it's gonna fall. I also believe there is one more HH in the LTF uptrend. I will put a sell limit on 26196.
You can hate me. That's cool. But it wouldn't stop it from dropping.
So you think because every tech guy and magazine and stupid believers said "BITCOIN WILL GROW FOR EVER", that will make it happen? Are we living in heaven ?! What about the fair value? Who do you want to sell to if there is no one to buy it from you?? Who are the buyers? of course whales....
my dear friends. In this chart you can see I am bearish on NZD. And that is true ! ;)
All the details are marked.
I'm open for any logical question.
Let me add this : If the "KEY" level get's Engulfed the chart is not valid anymore. so the stop loss of my opinion is touch of Key lvl.