A Road Map for the Bitcoin Bulls (Short Term) Part 2
Well, what can I say. The longs got kicked in the shorts today. LOL
I had stink bids in and they got filled. I think the only way for a long term trader can beat the whales at their own game is when the trend is bullish is to have several stink bids that are 3.5% to 10% below the weekly high.
You will notice that BTC is back in the pitchfork channel and we may find support at the bottom (purple line). If not, then we are likely headed back to 9400. We just broke through the daily 100 MA a few minutes ago which is very bearish. Either the whales are scaring us to give up our crypto (and they are doing a very good job of it), or we really are headed much much lower. In which case the bull run we have had for the past week was all manufactured to make us believe we were going to break out of the descending wedge and then they mugged us. I have noticed whenever the crypto analysts (especially on youtube) are talking about a breakout and reaching a new recent high, it is time to tighten your stops and run for cover. The general public is ALWAYS WRONG about the turning points in any market.
Please hit the Like button on your way out.
Also take note of the previous topics below.
I had stink bids in and they got filled. I think the only way for a long term trader can beat the whales at their own game is when the trend is bullish is to have several stink bids that are 3.5% to 10% below the weekly high.
You will notice that BTC is back in the pitchfork channel and we may find support at the bottom (purple line). If not, then we are likely headed back to 9400. We just broke through the daily 100 MA a few minutes ago which is very bearish. Either the whales are scaring us to give up our crypto (and they are doing a very good job of it), or we really are headed much much lower. In which case the bull run we have had for the past week was all manufactured to make us believe we were going to break out of the descending wedge and then they mugged us. I have noticed whenever the crypto analysts (especially on youtube) are talking about a breakout and reaching a new recent high, it is time to tighten your stops and run for cover. The general public is ALWAYS WRONG about the turning points in any market.
Please hit the Like button on your way out.
Also take note of the previous topics below.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.