Clearly, this is more of a schematic scenario, and the probability of it playing out exactly as drawn is extremely low.
The core idea is that I lean toward the view that a medium-term downtrend is unfolding — meaning it’s still developing.
In this context, every local upward impulse should be treated as a potential opportunity to enter short positions.
As long as the price stays below 96,392, we’re likely seeing the formation of distribution zones — from which the market may continue to move lower, aiming to break recent medium-term lows, with the potential to drop below the 70,000 level.
Also, if we look at the current market sentiment, most traders are excited about a new all-time high — and that often means the opposite is more likely, since the crowd tends to be wrong at key moments.
That said, this doesn’t mean shorting at current levels. It’s still essential to wait for clear confirmations to ensure higher-quality entries.
The core idea is that I lean toward the view that a medium-term downtrend is unfolding — meaning it’s still developing.
In this context, every local upward impulse should be treated as a potential opportunity to enter short positions.
As long as the price stays below 96,392, we’re likely seeing the formation of distribution zones — from which the market may continue to move lower, aiming to break recent medium-term lows, with the potential to drop below the 70,000 level.
Also, if we look at the current market sentiment, most traders are excited about a new all-time high — and that often means the opposite is more likely, since the crowd tends to be wrong at key moments.
That said, this doesn’t mean shorting at current levels. It’s still essential to wait for clear confirmations to ensure higher-quality entries.
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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.
Related publications
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.