i see a possible bear flag in formation from the last dump from 7400 level , and things not getting good for BTC since the flow of money getting weaker and weaker , the possible outcomes for now
ill prefer to keep shorting 6600 level (21 ema) and close the short if we get a daily close above 21 ema(orange line) aka the change of trend and i would like to open my short again at 6900 level , then a possible big dump
most important , the btc can top out at 6600 this time and may get a huge dump towards the 5k levels , just a matter of time
market is not mature enough and too manipulative and volatile so i don't think any bullrun inc soon
ill prefer to keep shorting 6600 level (21 ema) and close the short if we get a daily close above 21 ema(orange line) aka the change of trend and i would like to open my short again at 6900 level , then a possible big dump
most important , the btc can top out at 6600 this time and may get a huge dump towards the 5k levels , just a matter of time
market is not mature enough and too manipulative and volatile so i don't think any bullrun inc soon
Note
ill only close my short from 6600 if and only if we get a daily close above 21ema on non weekends , long if that happens and short 6950 again , but it doesn't seems happening IMONote
lets see if bulls can protect the 6300 ( a good place to long ) , once we break 6460 , we could see a rally upwards to 6600-6650 and then i think we will DUMP hard
Note
a 4H close below the bear flag , doesn't looks good for bulls if bulls doesn't manage to get it above 6450 today then we are most probably going much lower
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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.