BitcoinShort
RACEACEACE BTCUSD BITCOIN 7600 "SCAM WICK" INCOMING. BEARTRAP.
QUICK UPDATE: I believe the current level is a BEAR TRAP. The price is above the blue 1/1 Gann Fan line from the pivot high of that nasty wick candle (7659). In the coming short term, the price is likely to chop and move up towards the 8/1 line of this fan. The 8/1 line is situated at 7570 (near 7600).
It is no longer wise to enter a short position in the current price range. It is better to LOOK for shorts near 7600 if / when the price approaches that 8/1 line. I anticipate for the price to break above that 8/1 line resistance but I expect that 8/1 to fail as support, resulting in a DUMP.
My trading idea from yesterday:
Once again, shorting / longing right now, not wise. Wait for a big move to enter a trade. Why gamble?
I will not long or short at the current level. You can do what you want with your money.
I may be wrong - but I prefer to be safe than sorry. Good luck!
It is no longer wise to enter a short position in the current price range. It is better to LOOK for shorts near 7600 if / when the price approaches that 8/1 line. I anticipate for the price to break above that 8/1 line resistance but I expect that 8/1 to fail as support, resulting in a DUMP.
My trading idea from yesterday:
Once again, shorting / longing right now, not wise. Wait for a big move to enter a trade. Why gamble?
I will not long or short at the current level. You can do what you want with your money.
I may be wrong - but I prefer to be safe than sorry. Good luck!
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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.