I have been extremely bearish on the macro and certainly expect a MAJOR correction this cycle or the next. Price action has been bearish, weak, and looking like we may see it this cycle BUT BUT BUT it is flashing signs of a continuation to the upside and it may be time for a change of mind. IF the market doesn't give what you want best to take what it gives and there is certainly far more gains to be had to the long side.
Looking for price to brake 28k and hold and my bearish short sentiment will evaporate and will gladly hop on the moon boy train. I have been expecting a reversal with some upward action in our current time period BUT was also expecting another hard drop first. It has not happened.
So if macro momentum starts pushing up from our current level we will probably continue to the upside. IF we do get a hard drop in the next few days then price would be pushing up from a much lower price. IF it pushes up from here without that drop first well then we will probably push higher.
This a weekly chart for BTC and currently we have price retesting the top side of the weekly 200 EMA, weekly momentum wave crossing over flashing green, at a high time frame price level, AND long running trend line.
At the same time we could lose this level and if we do we will be down hard and likely for a long time. BUT IF IF IF we are going up and a continuation is in the cards this is most likely where it will occur.
Personally I have reduced my short positions by 50% and entered that portion to the long side with a stop loss invalidation area just below the trend. IF price can brake 28k with power or with a retest I will be closing all short positions and reentering to the long side. LFG......
Trade Well.....
Looking for price to brake 28k and hold and my bearish short sentiment will evaporate and will gladly hop on the moon boy train. I have been expecting a reversal with some upward action in our current time period BUT was also expecting another hard drop first. It has not happened.
So if macro momentum starts pushing up from our current level we will probably continue to the upside. IF we do get a hard drop in the next few days then price would be pushing up from a much lower price. IF it pushes up from here without that drop first well then we will probably push higher.
This a weekly chart for BTC and currently we have price retesting the top side of the weekly 200 EMA, weekly momentum wave crossing over flashing green, at a high time frame price level, AND long running trend line.
At the same time we could lose this level and if we do we will be down hard and likely for a long time. BUT IF IF IF we are going up and a continuation is in the cards this is most likely where it will occur.
Personally I have reduced my short positions by 50% and entered that portion to the long side with a stop loss invalidation area just below the trend. IF price can brake 28k with power or with a retest I will be closing all short positions and reentering to the long side. LFG......
Trade Well.....
Comment:
Price seems to be holding and pushing up
Comment:
Still going....
