$BTC -Something's got to GIVE
Updated
Quite some opium right now inside crypto communities due to Black-Rock joining cryptocurrencies.
Yes, we need new money flows entering crypto in order to extend it's market capitalization and raise it's voulme, but do you really think Bitcoin is attracting big money at 25K under a lot of Resistances with a 'rally' to 25K with close to no volume, when they can buy it way cheaper !
Bear Markets have Bull Rallies, as Bull Markets have Bear Corrections in between as Price move in 3's and Waves
Emotions get the best of us and we fail to realize that cryptocurrencies are seen as a very high risk speculative trading vehicles from institutions and banks.
Especially at times of Weak State Economies when by 2023 many experts see a lot of States and US getting in to a Global Recession.
Inflation problem is everywhere not only in the US, Feds can play all along with their fancy terms but they ain't taking inflation down after all the free money lending they have done post 2020 until now (M2).
Despite economic troubles, we are experiencing droughtness as a result of heat waves coming from climate change which will effect food supplies over key necessities sectors .
Gas Shortages for the 'Cold Winter' is being anticipated in Europe, especially in Germany due to Russia's tension with Ukraine.
- We got Geo-Political Risks like no other time and yet Gold is not moving that much ;
Russia-Ukraine
Israel-Gaza
Iran-Izrael (+US)
China-Taiwan (and it's already over heating between US-China arising tensions, bringing two superpowers near conflicts)
I don't really see how Market Indicies, Stocks and Bitcoin will range super bullish on this type of environment, but if they do I'd be surprised !
TA speaking, markets are about to top out, it doesn't really matter wether Bitcoin breaks 25K with volume and goes to 28-33K level.
Downtrend still intact!
You have been warned .
Have been short biased pre 2022 and continue to stay so, but with Stop Loss in place, as always.
Risk management your trades and respect your stop loss in order not to get stopped over short term moves
TRADE SAFE
Note that this is NOT Financial Advice !
Please do your own research before participating on any trading activity based upon this idea .
Yes, we need new money flows entering crypto in order to extend it's market capitalization and raise it's voulme, but do you really think Bitcoin is attracting big money at 25K under a lot of Resistances with a 'rally' to 25K with close to no volume, when they can buy it way cheaper !
Bear Markets have Bull Rallies, as Bull Markets have Bear Corrections in between as Price move in 3's and Waves
Emotions get the best of us and we fail to realize that cryptocurrencies are seen as a very high risk speculative trading vehicles from institutions and banks.
Especially at times of Weak State Economies when by 2023 many experts see a lot of States and US getting in to a Global Recession.
Inflation problem is everywhere not only in the US, Feds can play all along with their fancy terms but they ain't taking inflation down after all the free money lending they have done post 2020 until now (M2).
Despite economic troubles, we are experiencing droughtness as a result of heat waves coming from climate change which will effect food supplies over key necessities sectors .
Gas Shortages for the 'Cold Winter' is being anticipated in Europe, especially in Germany due to Russia's tension with Ukraine.
- We got Geo-Political Risks like no other time and yet Gold is not moving that much ;
Russia-Ukraine
Israel-Gaza
Iran-Izrael (+US)
China-Taiwan (and it's already over heating between US-China arising tensions, bringing two superpowers near conflicts)
I don't really see how Market Indicies, Stocks and Bitcoin will range super bullish on this type of environment, but if they do I'd be surprised !
TA speaking, markets are about to top out, it doesn't really matter wether Bitcoin breaks 25K with volume and goes to 28-33K level.
Downtrend still intact!
You have been warned .
Have been short biased pre 2022 and continue to stay so, but with Stop Loss in place, as always.
Risk management your trades and respect your stop loss in order not to get stopped over short term moves
TRADE SAFE
Note that this is NOT Financial Advice !
Please do your own research before participating on any trading activity based upon this idea .
Note
3 ' Wicked ' Red Daily Candles
It's been a real battle between bears and bulls testing each other these last days.
Bears putting a bit way more pressure to the bulls, are they gonna win ?
Trade active
Rising Wedge Pattern Break out
Today's daily close and tomorrow's opening is a full confirmation.
Next shorting Opportunity, break-out retest
Trade active
*** TP Zone ***
-Previous Support & Resistance areas coming the left of price action
- Daily Bull Flag Trendline Support
Related publications
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.