Short term long call here.
In case anyone is wondering why this is a bear trend, it's just the classic lower highs, and lower lows since the latest peak in June of 2019. Most of you all probably already realize this.
So I guess it's a great time for shorts. Unless you are like me, and can not short it. I can only make money off it when it is going up. Which is a lot more difficult to do, especially in a bear trend.
So how do we do this?
Again short term long call here.
First, I do think BTC is going to continue to go down mid term, possibly down to 4940 based off the weekly 200MA, which it has never broken. But since it broke the .618 fib retrace on this current bull run (which is now a bear sell off) I do think it's going to ultimately retest some important levels, like the 200 MA on the weekly, and some more POC (point of controls). And possibly lower given the fact that there are POC hanging out there down around the 3100 level. Unless something drastic changes soon. But in the short term there are lots of indications of it going up from here, and there is potential for profit, even in a bear trend.
And here is why I think this:
1) the stochs and RSI are so low it's not even funny. 2) we already achieved a lower low that fits the trend line perfectly. 3)We have multiple POC hanging about above us. 4) the Visable Range POC since this bull run started it at about 8K. In fact some are sitting at about 10K . This would still fit the narrative of a lower high, and lower low.
There is another visible range POC hanging around 10K depending on where you pull the viable range from.
As always keep in mind Bitcoins dirty little secret (from an investor's/trader's) perceptive (bitcoin has many more, but so does NYSE stocks like halliburon), and the fact that the real POC is under 1K, but in the mean time those of us who didn't get in on it at that level, we just have to work with the cards we are dealt.
In case anyone is wondering why this is a bear trend, it's just the classic lower highs, and lower lows since the latest peak in June of 2019. Most of you all probably already realize this.
So I guess it's a great time for shorts. Unless you are like me, and can not short it. I can only make money off it when it is going up. Which is a lot more difficult to do, especially in a bear trend.
So how do we do this?
Again short term long call here.
First, I do think BTC is going to continue to go down mid term, possibly down to 4940 based off the weekly 200MA, which it has never broken. But since it broke the .618 fib retrace on this current bull run (which is now a bear sell off) I do think it's going to ultimately retest some important levels, like the 200 MA on the weekly, and some more POC (point of controls). And possibly lower given the fact that there are POC hanging out there down around the 3100 level. Unless something drastic changes soon. But in the short term there are lots of indications of it going up from here, and there is potential for profit, even in a bear trend.
And here is why I think this:
1) the stochs and RSI are so low it's not even funny. 2) we already achieved a lower low that fits the trend line perfectly. 3)We have multiple POC hanging about above us. 4) the Visable Range POC since this bull run started it at about 8K. In fact some are sitting at about 10K . This would still fit the narrative of a lower high, and lower low.
There is another visible range POC hanging around 10K depending on where you pull the viable range from.
As always keep in mind Bitcoins dirty little secret (from an investor's/trader's) perceptive (bitcoin has many more, but so does NYSE stocks like halliburon), and the fact that the real POC is under 1K, but in the mean time those of us who didn't get in on it at that level, we just have to work with the cards we are dealt.
At emcs.store, we offer our services in custom Pinescript development for Tradingview.
We also provide access to a wide selection of proprietary trading tools we have developed as a subscription service, and we continue to innovate.
We also provide access to a wide selection of proprietary trading tools we have developed as a subscription service, and we continue to innovate.
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.
At emcs.store, we offer our services in custom Pinescript development for Tradingview.
We also provide access to a wide selection of proprietary trading tools we have developed as a subscription service, and we continue to innovate.
We also provide access to a wide selection of proprietary trading tools we have developed as a subscription service, and we continue to innovate.
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.