Bitcoin IS CLOSE to BREAKING..
Updated
Let's cut to the chase on this one. In trading it is vital to be contemperanous and respond accordingly with risk management in mind. I post this analysis as neutral however; I am far from being neautral but I am beyond certain doubt that we are nearing the end of what appears to be a squeeze.
We are either going to break up or down, and very hard and very quick I believe. I am no longer in a short however; I do anticipate there will be re-entry for a short. But I believe for many reasons I will explain in future analysis, that what the market expects tends to inform the market makers, who do the opposite but then switch and conform to the market via obfuscation of trending, collusion and how it is applied to different time frames, not to mention algos painting a picture.
So, I would be leaning more to the side of a break to the upside, however i lean away from a break that will be sustainable, and will rather crash back down, to the dump we are/were expecting. Let me mention guys, I don't guy if we moon or crash epically as if it is not sustained it is a mere wicking effect per se.
To validate break ups and break downs, we need candle count confirmation, 3 as a rule of thumb. And depending on your intended time frame to trade, will inform as to how many candles you want to see hold above a break, or kept rejected under a break.
So is this essentially breaking out just a giant bull trap, to finally get btc on sale one last time.
If you are in a short, I would consider taking profit, and the same for being in a long position. The rationale is pure risk management at this point.
We are either going to break up or down, and very hard and very quick I believe. I am no longer in a short however; I do anticipate there will be re-entry for a short. But I believe for many reasons I will explain in future analysis, that what the market expects tends to inform the market makers, who do the opposite but then switch and conform to the market via obfuscation of trending, collusion and how it is applied to different time frames, not to mention algos painting a picture.
So, I would be leaning more to the side of a break to the upside, however i lean away from a break that will be sustainable, and will rather crash back down, to the dump we are/were expecting. Let me mention guys, I don't guy if we moon or crash epically as if it is not sustained it is a mere wicking effect per se.
To validate break ups and break downs, we need candle count confirmation, 3 as a rule of thumb. And depending on your intended time frame to trade, will inform as to how many candles you want to see hold above a break, or kept rejected under a break.
So is this essentially breaking out just a giant bull trap, to finally get btc on sale one last time.
If you are in a short, I would consider taking profit, and the same for being in a long position. The rationale is pure risk management at this point.
Note
Note
And here is the daily view, just to add context. I forgot to mention, we really need to be checking all time frames especially in the current conditions. We can bullish and bearish at the same time; but you can't be both if you are looking to trade a big swing.Note
The above chart ^^^^ and the reasoning for applying 'The Big Short' as a title is in reference to another chart I have titled with the same phrase. Ideally, post halving and setting up for an ATH over the next 12-18 months, would be complimented with the expected dump we have seen historically, but rather than dumping first, let us trap some liquidity for a pullback to faciliate
'The Big Short'
Look into hyperwaves to understand why a pullback will happen, at some point, whether it be imminent or in a months time, it will happen and we WILL see 8k and under.
Note
Note
Looking at CMF in the above image, seeing a nice clean break with a peak exceeding the highest of the three, (far left), would add more weight to the projection of momentum to the upside.Note
MFI - seeing a downswing would indicate a rise in price, ideally, for it to breakout and complete 'the squeeze' we would want to see the MFI line hit the red trend line, and track downwards. If the opposite happens, and we break above that red MFI line, we dump. So again, the room for error is getting very minimal with respect to taking a position that is high in risk.Note
MFI and CMF comparison.
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