BTC Short Idea Bitcoin Short Idea. BTC Short Idea Bitcoin Short Idea. R=Risk, Risk of about 3.5%. Targets based on actual risk. The higher the R, the less likely price is to reach that level.
Bteth
BTC #BTC
◼️Several days I watched SP500 (the stock market, on the right side of the chart), we were on the same footing with him.. The bullish wedge was broken and tested from the back side. Permanent false shadows at the level of 4700… speak of fixing the position by the big players.
◼️On the left is my #BTC plan…. A cluster of long liquidations is stuck at 42***, there is an ascending channel (short, not plotted on the chart). Watching the permanent funding go more and more negative, YOU CAN SAY that the main wave of liquidations should come at 45***, but so far, I see only small fish ... the big fish that I was hunting fixed its short and got out. We need to build up more liquidity to break through 45***…
In the meantime, we go for the SP500 ....
ps / #ETH is shorting FTX and me.
(!) Bitcoin 2x Inverse Head & Shoulders ((1)55% profit potent.)People have been wish-ful-thinkingly seeing a very early inverse H&S on Bitcoin for some time now, but that very inverse head & shoulders really seems to be forming that last shoulder. Given the difference between the left shoulder and the head being around $4K, and the neckline around $11,5K – this would give us a target of $15,5K for this inverse H&S.
Note that if you want to trade this inverse H&S and want to do it by the book, you wait until break-out confirmation above neckline 1. Alternative entry points are when price bounces back after that initial break-out, but those are more complex and require more patience. Volume might also be massive when such a break-out occurs, so who knows BTC doesn’t even go for a retesting of that neckline (but I think it will).
So that’s our inverse head & shoulder number 1 – with target at around $15,5K which also coincides with the 23,6% Fibonacci retracement level.
The potential party isn’t over yet however – if you look at the chart, you will see a second left shoulder, the head, and if price would be bouncing around somewhat between neckline 1 and target 1, we have a right shoulder as well. In that case, we’re not speaking about 55% profit potential anymore, but $23-24K for Bitcoin or more than double the price now. We would have to wait to beyond May however for that to occur. But who knows, maybe mid-March we’re already at $15K, and you’d probably be glad already ;)
So, what do you think?! ;-)
