Whale(s) just shorted Bitcoin at $36k, $29k next?
Updated
Greetings on a grey Sunday here in the UK...(plz thumbs up and follow)
watching the markets and just saw a huge amount of shorts opened up at around
36K
expect a push towards lower prices, it's possible we could break the lows earlier in the week but honestly
29K seems to be the target using my spider-sense, I'd keep some liquidity spare just in case, its going to crush the whole market if it does and tour looking to DCA if you're in the hodl game
other indicators show a bullish outlook but could be a massive trap so I'm hesitant and going where the big money wants it to go
So pretty bearish outlook, but i never like to bet against bitcoin, use proper management if you do
tonight when markets open will give a good indicator to the week ahead hopefully and monday morning/afternoon im expecting a few fireworks either way towards29K or a pretty solid rally back towards 40k
have a great weekend, dont forget to comment and thumbs up/share my charts if you think they can help people !
watching the markets and just saw a huge amount of shorts opened up at around
36K expect a push towards lower prices, it's possible we could break the lows earlier in the week but honestly
29K seems to be the target using my spider-sense, I'd keep some liquidity spare just in case, its going to crush the whole market if it does and tour looking to DCA if you're in the hodl gameother indicators show a bullish outlook but could be a massive trap so I'm hesitant and going where the big money wants it to go
So pretty bearish outlook, but i never like to bet against bitcoin, use proper management if you do
tonight when markets open will give a good indicator to the week ahead hopefully and monday morning/afternoon im expecting a few fireworks either way towards
29K or a pretty solid rally back towards 40khave a great weekend, dont forget to comment and thumbs up/share my charts if you think they can help people !
Note
30m chart view, look at the bottomTrade active
small rally from 33k broke the downtrend channel, could be a quick short squeeze from positions earlier the trading day/week
id like to see us get above the cyan horizontal line and hold that as support, maybe i was wrong before on that level so if its ignored ill cancel and readjust
Trade active
price managed to get above my support level and hold it so far
yesterday was another round of big shorts opened but price held so far
bulls: will want to see a push and hold of 40k
bears: break this current support level and push on previous lows
Trade active
look where the latest trend lines converge!Note
might be a bit early but we broke the down trend, needs to hold now...Trade active
BIG whipsaws over the last 48 hrs, great for a day trader if u can get the sweet spots!
Anyhow, while upside of that uptrend channel the price was extremely bullish but always going up to fast IMO, some margin plays cause the rapid movements and now we're back in the channel but not out of the woods, selling pressure brought us down to the current support level and ideally i'd like to see this hold for futher gains into the weekend and beyond
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