Crypto Market VLOG #34 - BTC 40K break but wheres the close?
BTC broke and closed above the 40k, it was unable to stay above and has been going sideways for roughly a day. If we could have held above I may have gone long here.
My short got stopped at 41,300, the high was 41330... :( that sucked haha.
There is heavy resistance at 40k and 41k. Open interest is up, significant money is short. Price action is extremely indecisive. With recent bearishness, -50% drop from ATH, would we break above major resistance or fall back down?
MY PREDICTION = didn't have a firm prediction here. Was thinking of another minor bounce to 40k range then eventually we fall and test the support of descending channel, 36k to 37k. Also, I think there's potential for serious capitulation if we fail 40k here. Like 5k+ in 4 hours.
Shoutout to todays trading view idea = TradingShot
=== TimeStamps ===
0:00 = Welcome
0:30 = BTC 1 day
1:30 = BTC 4 hour
02:00 = BTC super indecision
03:40 = Odds of going higher
06:30 = Possible pattern trade
07:30 = FIBS
9:00 = Parallel Channel
11:00 = BTC 1 hour
12:00 = Alternate patterns
13:40 = BTC 1 minute
16:20 = TradingShot - 4h 200MA cross = bullish
19:15 = MY PREDICTION = (rushed)
19:30 = Closing words
My short got stopped at 41,300, the high was 41330... :( that sucked haha.
There is heavy resistance at 40k and 41k. Open interest is up, significant money is short. Price action is extremely indecisive. With recent bearishness, -50% drop from ATH, would we break above major resistance or fall back down?
MY PREDICTION = didn't have a firm prediction here. Was thinking of another minor bounce to 40k range then eventually we fall and test the support of descending channel, 36k to 37k. Also, I think there's potential for serious capitulation if we fail 40k here. Like 5k+ in 4 hours.
Shoutout to todays trading view idea = TradingShot
=== TimeStamps ===
0:00 = Welcome
0:30 = BTC 1 day
1:30 = BTC 4 hour
02:00 = BTC super indecision
03:40 = Odds of going higher
06:30 = Possible pattern trade
07:30 = FIBS
9:00 = Parallel Channel
11:00 = BTC 1 hour
12:00 = Alternate patterns
13:40 = BTC 1 minute
16:20 = TradingShot - 4h 200MA cross = bullish
19:15 = MY PREDICTION = (rushed)
19:30 = Closing words
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