BTC dropped as predicted - next move?
Updated
Great! For those that took the short :
Take some profit now, exit the rest around 3594 (remember to adjust those stop losses so you do not lose any money). I would say a nice short entry target if we manage to get back up there is 3891.
I think the rest of the day will be quiet, with more downside happening sometime tomorrow / over the weekend - two possible options drawn on the chart (purple and blue).
Almost the entire market was leaning long (check the top followed tradingview accounts + twitter). This in combination with clear exhaustion from the bulls (no follow through / long top wicks) was a pretty clear signal for the big guys to pull the trigger and wreck the retail traders.
Short target for now : 3600
Take some profit now, exit the rest around 3594 (remember to adjust those stop losses so you do not lose any money). I would say a nice short entry target if we manage to get back up there is 3891.
I think the rest of the day will be quiet, with more downside happening sometime tomorrow / over the weekend - two possible options drawn on the chart (purple and blue).
Almost the entire market was leaning long (check the top followed tradingview accounts + twitter). This in combination with clear exhaustion from the bulls (no follow through / long top wicks) was a pretty clear signal for the big guys to pull the trigger and wreck the retail traders.
Short target for now : 3600
Trade closed: target reached
Target hit - trade closed. Happened a lot quicker than I expected.
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