BitcoinUpdated BTC: Moon Dream *Hypo* -(I'm skeptical)
Note the current candle pattern similarities between where we're at now & the June 20th, '19 parabolic run-up.
After about a week of ranging & scraping the 9k psychological ceiling, we've finally broken through. Now, I still think it'll revisit the 4k dip (when, however, is a dif story). That said, I do have to consider that this is an irrational & fundamentally unpredictable market. Who tf knows which direction it'll go. So here's an alternative to my disaster scenario: Moons & Lambos (eye roll).
We still haven't broken the macro downtrend imo, despite this continuing run-up (note: yet to revisit 7.7 after going 7.7 -> 9.4 in a short period). All we need for a real bulltarded pump to previous heights is legitimate FOMO to kick in. The "halving moon prophecies" could very well end up being self-fulfilling. Best bet is to arbitrage, as always imo. Should be able to catch one hell of a ride once direction breaks.
I am short right now because of the historical resistance at this level. If 9.7 breaks & doesn't immediately retrace, 10k's blood will likely be in the water quick. Price action is currently healthy above 9.2, I expect to see dips to 9.140/9.089ish by EOD purely because of how choppy this range has been. Ranging 8.5-9.5 may still be far from over.
Lastly, & more importantly, we can all look forward to some great volatility. Careful trading this chop, it's a killer.
After about a week of ranging & scraping the 9k psychological ceiling, we've finally broken through. Now, I still think it'll revisit the 4k dip (when, however, is a dif story). That said, I do have to consider that this is an irrational & fundamentally unpredictable market. Who tf knows which direction it'll go. So here's an alternative to my disaster scenario: Moons & Lambos (eye roll).
We still haven't broken the macro downtrend imo, despite this continuing run-up (note: yet to revisit 7.7 after going 7.7 -> 9.4 in a short period). All we need for a real bulltarded pump to previous heights is legitimate FOMO to kick in. The "halving moon prophecies" could very well end up being self-fulfilling. Best bet is to arbitrage, as always imo. Should be able to catch one hell of a ride once direction breaks.
I am short right now because of the historical resistance at this level. If 9.7 breaks & doesn't immediately retrace, 10k's blood will likely be in the water quick. Price action is currently healthy above 9.2, I expect to see dips to 9.140/9.089ish by EOD purely because of how choppy this range has been. Ranging 8.5-9.5 may still be far from over.
Lastly, & more importantly, we can all look forward to some great volatility. Careful trading this chop, it's a killer.
Note
Looking cute, might have to flip. Still wary, but daily looks like 11.2 is inbound very soon.
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