Technicals say to short with a tight stop somewhere around here. It's ok for a short term trade.
But, this bear trap will be remembered by generations. I expect a V-shape recovery. My opinion.
Reason: the speed of how fiat currencies are getting devaluated by insane printer.
6 trillion of unlimited cash and they aren't going to stop. Buy a deflationary currency...
Best coin to hedge open long positions at other altcoins that are ready to pop soon.
4h Lagging span confirms end of the uptrend for now. Huge bearish div at volume and price. Seems like the party is over here.
3.17-3.30 is the best entry
Do you know why the whale doesn't cover his insane short so you to keep piling in your money in overcrowded trade?
Because they buy spot ETH at other exchanges. The whale bough up 20k ETH at 200$ with his whale wall at Bitstamp when everyone panic sold. He is at least 1/3 hedged by spot ETH already.
But keep selling ETH it's obviously going to zero.
Bitcoin shorts are showing possible local reversal with this falling wedge pointing right into green Ichimnoku cloud which is a possible rebound zone.
Market is very bullish, but don't be greedy people and don't forget to take partial profits. Anything can happen.
For this idea to be invalidated I want shorts to dump and bleed below 20k. Dump, not slowly falling....
Crypto trades 365/24/7. Why in the world people from traditional markets keep using 200 EMA? I have no idea.
The death cross everybody talked about didn't even happen in March.
The fate of Bitcoin for the next year is going to be decided in the next 1 to 4 weeks.
If you take a look at Ichimoku cloud and EMA 365/60/30 you can see there are 3 different scenarios...