Bitcoin / TetherUSShort
Dont say you haven't been warned - Short BTC
Updated
Most of the nowaday traders hate trendlines as they usually are not helpful for shortterm trades. To have the bigger picture, you need to stay by the rules and try be open minded.
The initial BTC move after Covid in Mar 20 was clearly bullish, it gave us the overall market trend in the higher timeframe (personally, I like 1D, but you can also use 1W for this trend, althoug it is clear on 1D); imo, we had a target of 82k. it didnt play out, for some reasons. Many traders only base on TA, but, as you know, market circumstances can influence the prica action (PA) and TA may fail and be uncorrect in it predictions. anyway, somehow, the trend may be picked up after the market circumstances calm...
...actually, the market circumstances are more unlikely than ever. Everybody, who tells you things like "forget it, it will never happen" or "100k in July" are highly unprofessional and have no clue! Dont listen to those guys! They are trying to influence the bias of uneducated people in order to create a hype and run the wave up. stay by the bigger picture.
what is the bigger picture:
as you can see the main trendlines in my chart, we have clearly broken the long upward trend (green) and the overall market circumstances are bearish, even if we make a HH. the red trendline marks the downward trendlin, which is also broken. At this point, you may think anything can happen and in some points, you are right. BUT: as the market always oscilates and we are clearly in overall bearish market structure, a retest of the red downward trendline is immanent.
In the end: Nobody knows the future, but unless we do not have any really bullish news, I am staying bearish. mid to long term healthy target: 21.5 - 25.8 k eoy.
addendum: If you read posts like 100k - 500k BTC, consider in which timeframe the TA is. only very long term targets on 1M 1W with this targets are realistic in my pov and in order to fulfil need healthy corrections.
The initial BTC move after Covid in Mar 20 was clearly bullish, it gave us the overall market trend in the higher timeframe (personally, I like 1D, but you can also use 1W for this trend, althoug it is clear on 1D); imo, we had a target of 82k. it didnt play out, for some reasons. Many traders only base on TA, but, as you know, market circumstances can influence the prica action (PA) and TA may fail and be uncorrect in it predictions. anyway, somehow, the trend may be picked up after the market circumstances calm...
...actually, the market circumstances are more unlikely than ever. Everybody, who tells you things like "forget it, it will never happen" or "100k in July" are highly unprofessional and have no clue! Dont listen to those guys! They are trying to influence the bias of uneducated people in order to create a hype and run the wave up. stay by the bigger picture.
what is the bigger picture:
as you can see the main trendlines in my chart, we have clearly broken the long upward trend (green) and the overall market circumstances are bearish, even if we make a HH. the red trendline marks the downward trendlin, which is also broken. At this point, you may think anything can happen and in some points, you are right. BUT: as the market always oscilates and we are clearly in overall bearish market structure, a retest of the red downward trendline is immanent.
In the end: Nobody knows the future, but unless we do not have any really bullish news, I am staying bearish. mid to long term healthy target: 21.5 - 25.8 k eoy.
addendum: If you read posts like 100k - 500k BTC, consider in which timeframe the TA is. only very long term targets on 1M 1W with this targets are realistic in my pov and in order to fulfil need healthy corrections.
Note
market makers has created another bullish bias in more than uncertain circumstances. be aware: it can happen at any time in this small bullish wave. usually, when none expect it, you will get rekt so fast you cannot react. dont get greedy, expect the unexpected.Note
remeber one thing: in order for market maker to exit, he needs liquidity. So when people tell you bullish ideas, they prepare to exit. if they are bearish, you should enter the stage.Note
I repeat myself once again: be prepared! nothing more to say.
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