BTC LATE SHORTERS ON HIT LIST
Updated
BTC is in the process of a mini bear cycle rally to squeeze late shorts, don't be fooled to think its a return-to-normal.
28k is the likely area of interest to wipe the shorts out, 30k will more than likely remain untouched - too much liquidity will be needed to break past again whilst in a bear market.
Long entry $22'700-23k
TP 1 -> 26k
TP 2 -> 28k
TP 3 -> 29k
Keep SL tight 22'400
As 21.8-21.6k is also a consideration for liquidity on the next upward push, but is not likely seeing how momentum is holding. Also to truly lure in longs we would see strong supports (higher than expected) when coming to an exit pump.
Late August/September are historically heavy red months and these look like no exception.
Trade wise and manage risk accordingly.
28k is the likely area of interest to wipe the shorts out, 30k will more than likely remain untouched - too much liquidity will be needed to break past again whilst in a bear market.
Long entry $22'700-23k
TP 1 -> 26k
TP 2 -> 28k
TP 3 -> 29k
Keep SL tight 22'400
As 21.8-21.6k is also a consideration for liquidity on the next upward push, but is not likely seeing how momentum is holding. Also to truly lure in longs we would see strong supports (higher than expected) when coming to an exit pump.
Late August/September are historically heavy red months and these look like no exception.
Trade wise and manage risk accordingly.
Note
Despite FUD (china/us) news which would normally tank the market BTC holds... looks like whales are keeping to the upward plan.Note
Long entered 22'660Pump incoming.
Note
TRADE CLOSED IN PROFIT - DOWNWARD ACTION HOLDING. ENTERING SHORTS 23K LOOKING FOR 18-20K SUPPORTS EARLY NEXT WEEK
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