The current market conditions are tricky, so adopting a patient approach is recommended to achieve better risk/reward outcomes. A general sense of discomfort has permeated the markets, and any minor glitch could induce panic, potentially leading to a significant sell-off. Whether this move will result in long-term manipulations for buying opportunities at lower prices or a significant burst of the crypto bubble remains uncertain.
While this outlook might seem pessimistic and unlikely, current market structures indicate this possibility. It's crucial to manage this information to your advantage by assessing the risks involved. Market changes will be reflected in the charts, so it's essential to spot trends early, stay agile, and conduct thorough due diligence (DD). The results will speak for themselves if you know what you're doing.
This setup is particularly interesting due to its small risk relative to potential rewards. It will either work or it won't, but continuous bearish sentiment might trigger a significant bear trend or swing.
Target levels on the way to the $30k area include $50k and then $43k. Entry levels are crucial; some traders may favor a grid-up strategy with extremes around the shaded area of the chart. Personally, on setups like this potential scenario, I enter individual trades where the first take profit (TP1) on one trade equals the risk on the other trades initially, loading more positions depending on how things are developing. Therefore, I'm actively looking for shorts now!
Always conduct your DD!
While this outlook might seem pessimistic and unlikely, current market structures indicate this possibility. It's crucial to manage this information to your advantage by assessing the risks involved. Market changes will be reflected in the charts, so it's essential to spot trends early, stay agile, and conduct thorough due diligence (DD). The results will speak for themselves if you know what you're doing.
This setup is particularly interesting due to its small risk relative to potential rewards. It will either work or it won't, but continuous bearish sentiment might trigger a significant bear trend or swing.
Target levels on the way to the $30k area include $50k and then $43k. Entry levels are crucial; some traders may favor a grid-up strategy with extremes around the shaded area of the chart. Personally, on setups like this potential scenario, I enter individual trades where the first take profit (TP1) on one trade equals the risk on the other trades initially, loading more positions depending on how things are developing. Therefore, I'm actively looking for shorts now!
Always conduct your DD!
Trade active
Early entry always look risky, but hey. it is what it is...Note
The stop-loss got triggered by a narrow margin! Actively seeking short positions, currently leaning towards selling, and likely to continue unless circumstances changeTrade active
Note
New shorts initiated! The area around $65,500 will serve as the invalidation point for this potential short scenario. Note
Bitcoin could potentially see a slight dip, as previously noted. Market sentiment appears uneasy, adding to the downward pressure.
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.
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.