BTC Bitcoin Ponzi -> Double topping, liquidity spikes withering
BTC seems to be approaching the critical zone of the 3.2-3.4k region. I have been very accurately calling these lower highs after lower highs through out this bearish period, and I believe a break of this structure will result in massive selling, which will probably not stop at 2.8k if this level is breached.
I am still holding shorts from the 3700 level, but have taken off most of the profit at the 3.4k level I mentioned as a great TP profit zone for shorts.
This is still not a bad level to short, with a stop loss above 3600, reward is great if we break the daily bullish order block (3200-3400 daily OB).
Short level: 3520
Stop loss: 3600.
Target Profit: 3200
I am still holding shorts from the 3700 level, but have taken off most of the profit at the 3.4k level I mentioned as a great TP profit zone for shorts.
This is still not a bad level to short, with a stop loss above 3600, reward is great if we break the daily bullish order block (3200-3400 daily OB).
Short level: 3520
Stop loss: 3600.
Target Profit: 3200
Note
I see parma-fools and trolls getting excited on this 30-50 point "bull run".
Reminder to study basic, elementary trading patterns and you will quickly learn BTC is in a rising wedge with heavy resistance up above. Until BTC gets and closes above the 3.8k level, I will continue to point bearish targets per my analysis.
Note
@alanmasters
Namaste...LOL...
Trade active
Note
Big moment coming for BTC
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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.