Bitcoin - Trapping longs and shorts
! Not financial advice but someone sharing his trading diary! - Make your own plans and you will do fine in the long run.
Interesting price action at the moment. Bitcoin is shaking lots of later traders out of the market, from both longs and shorts, now it is time for shorts to be stopped / liquidated.
This impulse that we are seeing now is apparently bullish but be careful. It is mostly done by Shorts being stopped and liquidated. Too early to tell that Market is in a reversal and uptrend will continue. If there is a reversal on open interest, then I believe we can resume bullish uptrend, but I am skeptical. I still want to see more longs to be stopped out.
Target for this move was 47k-45k and I still believe that 45 K is not out of question. This is just my opinion, so I don't trade my opinion and I have a long laddered, waiting to be closed (we are approaching important levels that might become S/R flips)
#btc # bitcoin #technicalanalysis #chart # trading #idea
Interesting price action at the moment. Bitcoin is shaking lots of later traders out of the market, from both longs and shorts, now it is time for shorts to be stopped / liquidated.
This impulse that we are seeing now is apparently bullish but be careful. It is mostly done by Shorts being stopped and liquidated. Too early to tell that Market is in a reversal and uptrend will continue. If there is a reversal on open interest, then I believe we can resume bullish uptrend, but I am skeptical. I still want to see more longs to be stopped out.
Target for this move was 47k-45k and I still believe that 45 K is not out of question. This is just my opinion, so I don't trade my opinion and I have a long laddered, waiting to be closed (we are approaching important levels that might become S/R flips)
#btc # bitcoin #technicalanalysis #chart # trading #idea
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