Bitcoin has broke through 6400 as I have stated during my previous call, and so far it looks like we will repeat the previous pattern. For now I expect consolidation for a little bit before breaking down again.
Many of you have noticed the bullish divergence on the small and bigger timeframes. However, during the drop from 8500 to 5900, we have also been getting similar bullish divergences.
Notice how we still dropped despite the clear divergence on the higher time frames. Therefore, you may keep your previous shorts or add during 6200. I would scale into a short now and leave your larger orders above 6200.
A bottoming pattern will be something like the 6000 bottoming, we will not be bottoming from a bear flag.
Short: 6200+
Take profit:
5400 (1.618 fib)
Thanks for viewing! The call where I messed up is when I called for the 6900 level to hold due to the massive buying from a whale there.
Many of you have noticed the bullish divergence on the small and bigger timeframes. However, during the drop from 8500 to 5900, we have also been getting similar bullish divergences.
Notice how we still dropped despite the clear divergence on the higher time frames. Therefore, you may keep your previous shorts or add during 6200. I would scale into a short now and leave your larger orders above 6200.
A bottoming pattern will be something like the 6000 bottoming, we will not be bottoming from a bear flag.
Short: 6200+
Take profit:
5400 (1.618 fib)
Thanks for viewing! The call where I messed up is when I called for the 6900 level to hold due to the massive buying from a whale there.
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I still expect a break below 6000.
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RIght now Ethereum is possibly the best short you can be in. Price looks very very weak, and it will tank if Bitcoin drops.
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i strongly urge you to look at SwissView's idea on tradingview for Bitcoin. It has been very interesting to read.
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Last time in this range Bitcoin was being bought by the thousands in 1k+ buys. The wall has appeared once again but this time it may be spoof.
Last time in this range Bitcoin was being bought by the thousands in 1k+ buys. The wall has appeared once again but this time it may be spoof.
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Notice the spike in buys over sells. CVD and BTCUSDLONGS both show this. The buys are being sold into.
Notice the spike in buys over sells. CVD and BTCUSDLONGS both show this. The buys are being sold into.
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Counters ratio also shows some people are now betting on an uptrend.
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Shorted the pump. Notice the liquidation spike. Its free money basically. Will take profit after 50+ points.
Shorted the pump. Notice the liquidation spike. Its free money basically. Will take profit after 50+ points.
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Alts and Bitcoin were correlated during the pump, so if Bitcoin drops you may expect alts to fall quick.
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I am currently short Eth 210 and short Bitcoin 6700 on my main account.
My alt has an Eth short 192 so far.
I am still bearish. How long can this 6k support hold?
We are lacking the bull whale who was buying 1k worth of BTC down here.
My alt has an Eth short 192 so far.
I am still bearish. How long can this 6k support hold?
We are lacking the bull whale who was buying 1k worth of BTC down here.
Price looks bullish for now, so if you wait you can probably get a better entry.