🩸🐂 Short-Term BEARISH Bitcoin - Pain incoming for Bulls.
I may be shooting myself in the foot here for posting this before
the daily close, but as of right now things seems bearish.
1. We broke down from our parabolic advance.
2. The sell volume as of 3 days ago was the biggest we've seen
since march. To me, this is a clear sign that BIG money moved out.
And it may signal further downside as retail traders fail to make any
significant breakouts.
3. We seem to have hit the Golden Pocket on a retrace, and more selloff
Will likely occur as bigger players hedge their bets at the .618 Fib level.
4. The MACD is flashing its first sell-signal. Typically this wouldn't worry me,
But the MASSIVE sell-volume to match it makes me want to play cautious.
5. We moved so FAR and FAST above any other supports that I believe it
would be healthy and good for BTC to establish some supports and pull-back.
HOW TO TRADE THIS MOVE:
It's highly likely if we breakdown to my listed
Buy Zone that we will see a retrace to $30,000 - $32,000.
IF we do reach the levels in my buy zone, we may be in for
further pain. I wouldn't be shocked to see BTC fall down to
its previous All-Time-High to retest it as support.
HOWEVER: it's important to remember that sub 20,000 levels
Are HIGHLY UNLIKELY because of Fed printing and Supply
& Demand issues. Currrenly more BTC is being bought than is
being mined. So for that reason I pray we reach 26,000 Levels
And I will be a huge buyer.
As things stand, I am on the sidelines and won't buy this current
pump because it may very well be a lower high.
I won't be buying anything UNDER 42k.
If I am wrong and we do continue bullish momentum, I will only
buy a clean breakout for a New All-Time-High.
Happy Trading!
the daily close, but as of right now things seems bearish.
1. We broke down from our parabolic advance.
2. The sell volume as of 3 days ago was the biggest we've seen
since march. To me, this is a clear sign that BIG money moved out.
And it may signal further downside as retail traders fail to make any
significant breakouts.
3. We seem to have hit the Golden Pocket on a retrace, and more selloff
Will likely occur as bigger players hedge their bets at the .618 Fib level.
4. The MACD is flashing its first sell-signal. Typically this wouldn't worry me,
But the MASSIVE sell-volume to match it makes me want to play cautious.
5. We moved so FAR and FAST above any other supports that I believe it
would be healthy and good for BTC to establish some supports and pull-back.
HOW TO TRADE THIS MOVE:
It's highly likely if we breakdown to my listed
Buy Zone that we will see a retrace to $30,000 - $32,000.
IF we do reach the levels in my buy zone, we may be in for
further pain. I wouldn't be shocked to see BTC fall down to
its previous All-Time-High to retest it as support.
HOWEVER: it's important to remember that sub 20,000 levels
Are HIGHLY UNLIKELY because of Fed printing and Supply
& Demand issues. Currrenly more BTC is being bought than is
being mined. So for that reason I pray we reach 26,000 Levels
And I will be a huge buyer.
As things stand, I am on the sidelines and won't buy this current
pump because it may very well be a lower high.
I won't be buying anything UNDER 42k.
If I am wrong and we do continue bullish momentum, I will only
buy a clean breakout for a New All-Time-High.
Happy Trading!
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