Its fair to say the majority of TA is bearish in its outlook for Bitcoin. Its easy to see why most TA is expecting a fall, especially with those that consider BTC too expensive at $10k. But it also makes me nervous that so many are sure of a fall - BTC tends to surprise and BAKKT is round the corner.
Im thinking 2 outcomes at the moment;
"Bitcoin keeps getting bought up at $9.5 - $10k. Soon it will lift off and leave $10k behind for good
or..
"Bitcoin is only just hanging on to $10k and this is its final stand. Even BAKKT news cant save it from going lower"
I still have a short open with a TP of $7300, although there are a few supports to break to reach that point. I previously published a sharp drop to 7,300 which was immediately rejected with an unexpected rise in early September. While the drop is still expected, it will probably come from a more extended wave 3 than previously published.
Im thinking 2 outcomes at the moment;
"Bitcoin keeps getting bought up at $9.5 - $10k. Soon it will lift off and leave $10k behind for good
or..
"Bitcoin is only just hanging on to $10k and this is its final stand. Even BAKKT news cant save it from going lower"
I still have a short open with a TP of $7300, although there are a few supports to break to reach that point. I previously published a sharp drop to 7,300 which was immediately rejected with an unexpected rise in early September. While the drop is still expected, it will probably come from a more extended wave 3 than previously published.
Trade closed manually:
Trad close 8215 looking for new trade to take us to 6200