Looks like the next bitcoin short is setting up. Targets down in the 12000s.
My last short setup worked out pretty perfect. See my related idea.
Note
Looks like it is doing a full half way back. Highs to recent lows full 50% retrace.Note
Sellers came in as expected in the 16600 area. Now we will see if buyers support the recent rally. Possible re-test of sell zone. A break below 14900 area would indicate sellers are in control and buyers have lost control and short should trade to targets in the 12000 level.
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Buyers capitulated and sellers gained control. We will likely the hit the mid 12000's and could easily hit 10k area for a full %50 pullback from the all time highs in the 19000sNote
With futures now open we rocketed back up into the full 50% sell zone. Let's see if sellers come back in. Until Price breaks 17500 buyers are not fully in control.
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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.