Market sentiment is moving towards a more bullish outlook. Every time this has happened in the bear market we have had a very big drop.
12 hour chart on BTC points towards a bearish divergence.
Major altcoins also printed bearish divergences earlier.
Do not be fooled by market sentiment. Remove your emotions from your investments and trades. BTC still has a lot to go. This looks like a distribution phase before the next drop. We could get a few bull traps on the way but I am still swayed towards a bearish outlook.
My stop loss is at 4250 (on bitmex).
I will slowly build a short position at the current market price.
Expecting at least a re-test of the bottom (3k).
12 hour chart on BTC points towards a bearish divergence.
Major altcoins also printed bearish divergences earlier.
Do not be fooled by market sentiment. Remove your emotions from your investments and trades. BTC still has a lot to go. This looks like a distribution phase before the next drop. We could get a few bull traps on the way but I am still swayed towards a bearish outlook.
My stop loss is at 4250 (on bitmex).
I will slowly build a short position at the current market price.
Expecting at least a re-test of the bottom (3k).
Note
Expecting a drop this weekend.
Everybody is too bullish.
Trade closed: stop reached
Big ooft
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.
Big ooft
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.