Fundamentals: nothing positive in news, no up coming events.
Technicals: symmetrical triangle looking bearish . Chart explains. Small chance looking at BTCUSDSHORTS 2.07% there might be a squeeze. Longs have climbed but plateaued and waiting for a signal.
Psychological: Near the bottom so people are longing this triangle FOMOing we won't revisit support. Though we've broken out of the old megastructure and have not confirmed the new one, need to retest new wedge (see my last chart for more insight). Institutional money looking to buy in later this year or not if price climbs here; a climb here won't be pushed by institutional money so I cannot see it happening.
I'm trading this on low leverage and not using the stop loss target. I believe if price does break up it will retest support before reaching 7k. Shorting this on low leverage has very small risk.
Bit worried I'll miss this short position if price doesn't climb, but lately we've been seeing spikes right before the falls consistently, so I'm putting my confidence to the test.
Good luck guys, this one should be a riot.
Technicals: symmetrical triangle looking bearish . Chart explains. Small chance looking at BTCUSDSHORTS 2.07% there might be a squeeze. Longs have climbed but plateaued and waiting for a signal.
Psychological: Near the bottom so people are longing this triangle FOMOing we won't revisit support. Though we've broken out of the old megastructure and have not confirmed the new one, need to retest new wedge (see my last chart for more insight). Institutional money looking to buy in later this year or not if price climbs here; a climb here won't be pushed by institutional money so I cannot see it happening.
I'm trading this on low leverage and not using the stop loss target. I believe if price does break up it will retest support before reaching 7k. Shorting this on low leverage has very small risk.
Bit worried I'll miss this short position if price doesn't climb, but lately we've been seeing spikes right before the falls consistently, so I'm putting my confidence to the test.
Good luck guys, this one should be a riot.
Comment:
tweaked it
Comment:
Entry filled. BTC will crawl along the .618 level then contest resistance one more time before falling.
I've been watching buy walls on bitmex baiting bulls. i get pretty comfortable when i see this. the green Humpty will come tumbling.
I've been watching buy walls on bitmex baiting bulls. i get pretty comfortable when i see this. the green Humpty will come tumbling.