BitcoinShort
BTCUSD - Gator is Eating; Nom Nom Nom
If you shorted and or sold the top congrats you saw all signs. The last rise appears to just be a bull trap and I hope you didn't buy back in, or, if you did it was for a quick scalp. Above you will see Williams Alligator and Fractals. They allow you to see if the trend is going to continue and the macro bear trend is still alive as well. There are no fractals that have closed above the teeth. This means that the trend will continue downwards. Additionally, the lip is still under the teeth (eating downwards) and it has not crossed the teeth (red line) or jaw.
On a Weekly timescale we are still well above the teeth and there are no fractals anywhere close to the teeth. It is common for the price to be attracted to the teeth if it gets to far away (ie, like the 3000 drop).
In short this is just an intermission and until we have a fractal close above the teeth it will continue downwards.
Happy trading
On a Weekly timescale we are still well above the teeth and there are no fractals anywhere close to the teeth. It is common for the price to be attracted to the teeth if it gets to far away (ie, like the 3000 drop).
In short this is just an intermission and until we have a fractal close above the teeth it will continue downwards.
Happy trading
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.