Bitcoin has had a large candle after we broke through the 6.3k resistance area. There was a large whale who went short below 6k trying to deflate the price, while the exchanges or another whales was trying to pump the price past 6.3k. There was a price stop at exactly 6.3k on Bitfinex as the whale kept selling while people kept buying. We broke through leading to the green you see today.
For now I expect another bullish push before a correction. The H&S pattern could be forming. A ton of shorts are underwater right now, and I expect another bull move to liquidate some of them. We have a bear div forming on the 1 hour so I expect the move to be ending before 7k.
I will be opening a short at 6.8k and max at 7.1k. My stop loss will be past 7.2k.
Thanks for viewing! I'll respond to all comments below.
For now I expect another bullish push before a correction. The H&S pattern could be forming. A ton of shorts are underwater right now, and I expect another bull move to liquidate some of them. We have a bear div forming on the 1 hour so I expect the move to be ending before 7k.
I will be opening a short at 6.8k and max at 7.1k. My stop loss will be past 7.2k.
Thanks for viewing! I'll respond to all comments below.
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I already have a small short open here with the bear div.Note
Expecting a downtrend once green cloud is broken, which will be soon.
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If I'm to be unbiased, I expect a move down in the next 4 days. I realize there is a lot of shorts open right now but the short squeeze did not really go to 6800 as predicted.
I'm expecting a further drop in the next 5 hours.
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I closed my short, I think a small rise is possible so just waiting.Note
Re-entered short at average of 6409, might wait before closing again
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Expecting bigger drop.
Trade active
Dump happened as I predicted, so far up 2.3%.
My targets are 6229 and around 6.1k
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Edit, dump happened, still unknown if we hold bottom of green cloud.Note
Pump to 6300, guess I was right after all. Added to my short at 6330Note
If price hits 6330 I'll enterNote
Closed my shorts, looks like this might play out
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Might not be it yet, we could still get bought up, which happened the last time we rallied.
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Could get broken down. Sitting in a small short and adding if we drop
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Here is a inverse H&S that is evident on the Bitcoin Futures. Less evident on BTC however.
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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.