Short

Updated

prognosis: stay short on longer timeframes (BTCUSD)

there is a lot of rabble rousing, stronk posting and hodling out there in the bitcoin space right now because we pulled back from the lows. i think its quite possibke that we 4hr bearflag, and this carries back up to the weekly timeframe where we have been bearish since november 2021. the bottom line is that we are at the upper bounds of a channel since then, and unless we immediately break it to the upside we have not reversed the downtrend. shooting star or bear doji would confirm my suspicions that this is a weak market.

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i think were about to see qqe short entries on multiple timeframes based on what this potential pattern would do to rsi:

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target 38123.45 🤷 it looks like a random level but its not

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topfishing if we hit 425

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as you can see btc is losing market cap

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if you are getting more bullish on btc as dxy continues its trajectory upward youre gonna have a bad time

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aiming for 39225

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the price is threatening to break below the lower band of auto anchored vwap:

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we would need to get above 432 for longs to hold water:

odds are higher that we bearflag

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topfishing any move that sets a lower high hourly next sell target 42198 gap close

Trade closed manually

cut half loose here let some ride stop 42525.25

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were down roughly a percent... good region to cover

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topfish if we get up to 425 and reject
if we start breaking above 426 and confirm id look for 444

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qqe has punched in a very odd long entry im curious to see where it goes

Trade closed manually

cover everything

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this range/cypher appears to be breaking bull

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typical to see a pullback from lows in a downtrend
heres how i slice it in terms of retracement:

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if we reject from 422 it would remain sell

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if we break 419 i think well get a really nice rug pull

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every touch of upper bb has been bearish since november:

strong trend it will take a lot to change it

Trade closed manually

good area to cover half again

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unless we break to new lows cover everything

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if we get into a region where the price overbuys rsi and breaks the uptrend rejecting 422 this could get into reshort territory with a short entry on qqe 5 minutes

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id imagine if the .5 is our higher low that we bounce around in a tightening range for weeks

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covering is likely the best option

we hit .618 daily

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