A powerful pump upward is to expect in the coming days
Very low volume + bullflag pattern - perfect setup for market makers to squeeze over extended shorts. Most stop losses are probably stacked above 7k (psychological number) so i expect the candle to blow through that level. Shorts are standing at a 2:1 ratio vs longs. That’s all the liquidity market makers need for the big short.
Here a strategy: shorts laddered from 6900 to 7300
S/L (far) 7800-8000
targets 5800 - 4900 - 4400 - 2900
Scenario 2, more unlikely would be a bart simpson, hence a large dump. It would likely break the lower trend line down to 5800, but lack momentum and the dip would be instantly bought up to the point of control
I wouldn’t long a bear market but a (risky) trade could be laddering longs between the trend line and 5800
If we got a daily close below the red trend line, i would definitely start shorting incrementally.
In between the red trendline and 6750 there is no business to do - no trade zone
Very low volume + bullflag pattern - perfect setup for market makers to squeeze over extended shorts. Most stop losses are probably stacked above 7k (psychological number) so i expect the candle to blow through that level. Shorts are standing at a 2:1 ratio vs longs. That’s all the liquidity market makers need for the big short.
Here a strategy: shorts laddered from 6900 to 7300
S/L (far) 7800-8000
targets 5800 - 4900 - 4400 - 2900
Scenario 2, more unlikely would be a bart simpson, hence a large dump. It would likely break the lower trend line down to 5800, but lack momentum and the dip would be instantly bought up to the point of control
I wouldn’t long a bear market but a (risky) trade could be laddering longs between the trend line and 5800
If we got a daily close below the red trend line, i would definitely start shorting incrementally.
In between the red trendline and 6750 there is no business to do - no trade zone