Hi Traders,
As you can see, BTC is forming some overlaping structure above strong support, so my expectation is: Somebody is buildng a BIG short position to break it DOWN.
BUT, Be prepared for both directions and wait which trendline will be broken ;)
Take care and trade safe.
As you can see, BTC is forming some overlaping structure above strong support, so my expectation is: Somebody is buildng a BIG short position to break it DOWN.
BUT, Be prepared for both directions and wait which trendline will be broken ;)
Take care and trade safe.
Note
Smaller TF: Note
Triangle formation was broken, hence I suppose it could be abc bear flag or some similar structure where wave c is ongoing. Small TF:
Trade active
As long as the move from 48K to 39,2K can be identified as impulsive wave down (1 or A)... I expect at least another one Wave down ...(3 or C)If its wave 1 ... then hold your seat and get ready for a ride. It will be Volatile.
As long as the move from 48K to 39,2K can be identified as impulsive wave down (1 or A)... I expect at least another one Wave down ...(3 or C)
If its wave 1 ... then hold your seat and get ready for a ride. It will be Volatile.
Note
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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.