Bitcoin / TetherUSShort
Bitcoin Looks Sad
What will Bitcoin do next?
It's been a pretty sad few weeks for anyone hoping to land on the moon any time soon!
So whats the plan? Complain about losing or look objectively at the market to find your next opportuinuty?
The facts are.
1. Weekly and Daily market structure is bearish , so we are hunting for short trades.
2. BTC is at a very strong level as we post this. This level has held either side for 12 different weeks. If we break through $40000 we expect to visit $30000 soon after, another key level of support.
3. BTC could hold for a 13th week and print some bullish candles at this support level for another run to the upside. (Turns out it did not)
We are looked for a close below $40000, trading with the trend and searching for our entry to short the market, or we wait for bullish market structure on the daily timeframe and change our positions accordingly.
Stay safe our there!
It's been a pretty sad few weeks for anyone hoping to land on the moon any time soon!
So whats the plan? Complain about losing or look objectively at the market to find your next opportuinuty?
The facts are.
1. Weekly and Daily market structure is bearish , so we are hunting for short trades.
2. BTC is at a very strong level as we post this. This level has held either side for 12 different weeks. If we break through $40000 we expect to visit $30000 soon after, another key level of support.
3. BTC could hold for a 13th week and print some bullish candles at this support level for another run to the upside. (Turns out it did not)
We are looked for a close below $40000, trading with the trend and searching for our entry to short the market, or we wait for bullish market structure on the daily timeframe and change our positions accordingly.
Stay safe our there!
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.
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.