As mentioned in my previous idea this bounce looks weak to me, besides pa itself especially the super low Volume Oscillator on the 4h worries me.
I'm adding to my shorts selling into every minor uptrend up to the mid of the range around 9500 that I don't expect we'll visit again before the dump.
Please see the ascending triangle, a bullish formation that usually forms during an uptrend as continuation pattern.
Very often I observe the opposite to be true in the manipulated bitcoin market. Market makers / whales regularly trap retail traders in a fake breakout just to dump on them hours or sometimes even minutes later. CT was full of this formation, as always try to avoid the hype. The more obvious the situation seems to be the more you must not trust it to play out in the end.
I left the green buy zone from the previous post in the chart but I will no longer buy it blindly. I could see us even going lower to 7600/ 7800 towards the weekend or Monday next week.
8740 is weekly support, 8560 the low of the trading range.
Take care and as always please remember:
The most important question is not how to make more profits but how to avoid losing money. When ever you are in doubt, hope is not a strategy.
I'm adding to my shorts selling into every minor uptrend up to the mid of the range around 9500 that I don't expect we'll visit again before the dump.
Please see the ascending triangle, a bullish formation that usually forms during an uptrend as continuation pattern.
Very often I observe the opposite to be true in the manipulated bitcoin market. Market makers / whales regularly trap retail traders in a fake breakout just to dump on them hours or sometimes even minutes later. CT was full of this formation, as always try to avoid the hype. The more obvious the situation seems to be the more you must not trust it to play out in the end.
I left the green buy zone from the previous post in the chart but I will no longer buy it blindly. I could see us even going lower to 7600/ 7800 towards the weekend or Monday next week.
8740 is weekly support, 8560 the low of the trading range.
Take care and as always please remember:
The most important question is not how to make more profits but how to avoid losing money. When ever you are in doubt, hope is not a strategy.