$13,920 by Q1 2023 then MASSIVE short squeeze? (BTC)
Hi tradingview community,
I haven't posted anything in a very long time because I've been busy with other area's of life, but have some time over the holidays to really focus on the market and what I've been anticipating to come in the next several months.
2018 ATH isn’t support if you’re considering the market structure macro laws, it’s just a turning point and a major area of interest on the charts. $14,000 is another example, $12,500 is solid support and $9650 is a liquidity hot spot.
$13,920 is a massive market structure area of interest in my own personal experience and knowledge and once this level is tapped (if and when) I'll come ALL short positions and the bearish bias will be gone until we see a hated short squeeze hopefully in the new year which is just around the corner.
A few days ago before we wicked above $18,000 and confirmed the 4th tap on the trend area of interest I had planned for a rejection into the supply zone and SO FAR we've seen exactly this happen.
Early November we had gapped below the October low which was around $17,500 - $17,600. If that level is lost again and buyers can't push the market past which is already extremely overbought and extended on the daily timeframe this move up will look like a simple retest of this area of confluence which also was a clear deviation of the November breakdown from the previous low in October i was referring to in this small paragraph.
When I first started trading in March of 2020 a motto that stuck with me was "plan your trade and trade your plan"
SO, as long as this plays out accordingly I'll stick to the logical plan instead of getting emotional and allowing the cognitive side of my brain become clouded with poor judgment towards BTC.
My last few TA's posted we're pretty off but this was my first market cycle learning the macro uptrend & downtrend OR bull run & bear market.
Enjoy your Christmas holidays & I wish you all a very happy New Years.
If you enjoyed the TA (technical analysis) above and the description please drop a like and leave a comment to show support if you'd like more to come in 2023.
👍
I haven't posted anything in a very long time because I've been busy with other area's of life, but have some time over the holidays to really focus on the market and what I've been anticipating to come in the next several months.
2018 ATH isn’t support if you’re considering the market structure macro laws, it’s just a turning point and a major area of interest on the charts. $14,000 is another example, $12,500 is solid support and $9650 is a liquidity hot spot.
$13,920 is a massive market structure area of interest in my own personal experience and knowledge and once this level is tapped (if and when) I'll come ALL short positions and the bearish bias will be gone until we see a hated short squeeze hopefully in the new year which is just around the corner.
A few days ago before we wicked above $18,000 and confirmed the 4th tap on the trend area of interest I had planned for a rejection into the supply zone and SO FAR we've seen exactly this happen.
Early November we had gapped below the October low which was around $17,500 - $17,600. If that level is lost again and buyers can't push the market past which is already extremely overbought and extended on the daily timeframe this move up will look like a simple retest of this area of confluence which also was a clear deviation of the November breakdown from the previous low in October i was referring to in this small paragraph.
When I first started trading in March of 2020 a motto that stuck with me was "plan your trade and trade your plan"
SO, as long as this plays out accordingly I'll stick to the logical plan instead of getting emotional and allowing the cognitive side of my brain become clouded with poor judgment towards BTC.
My last few TA's posted we're pretty off but this was my first market cycle learning the macro uptrend & downtrend OR bull run & bear market.
Enjoy your Christmas holidays & I wish you all a very happy New Years.
If you enjoyed the TA (technical analysis) above and the description please drop a like and leave a comment to show support if you'd like more to come in 2023.
👍
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