I'm calling this a ballsy short because the price action is a little weird with this rising wedge as it was with the last one that BTC was in.
The last rising wedge call was a success, and I will attach that to this idea.
According to how the trendlines are drawn here, we've broken out of the rising wedge. We tried to regain the trendline and just failed to do so, and pushed down again.
Rising wedge measurement and fib confluence lead us to 29.5k.
Seeing how this is the 5th to 6th time we've tested that area, I am not sure if it holds this time.
Amidst everyone's Wyckoff accumulation bull pump speculation, this is a ballsy short. So the ballsy term is 2 fold - weird price action, and plenty of bullish speculation.
Please use stop/loss and don't over leverage.
Thank you!
The last rising wedge call was a success, and I will attach that to this idea.
According to how the trendlines are drawn here, we've broken out of the rising wedge. We tried to regain the trendline and just failed to do so, and pushed down again.
Rising wedge measurement and fib confluence lead us to 29.5k.
Seeing how this is the 5th to 6th time we've tested that area, I am not sure if it holds this time.
Amidst everyone's Wyckoff accumulation bull pump speculation, this is a ballsy short. So the ballsy term is 2 fold - weird price action, and plenty of bullish speculation.
Please use stop/loss and don't over leverage.
Thank you!
Trade active
Trade active
Note
Trade active
The dollar should remain bullish overall even after taking a breather soon if it does. That would give bitcoin a chance for a recovery rally while the dollar cools off, and then once the dollar wakes back up, that'll be time for btc to finally take a dump I think.Note
Trade active
Trade active
With the dollar pushing hard now and setting its self up for a pullback - I would expect wherever the local bottom ends up being for BTC to hold, and then commence on a recovery rally for BTC and crypto as a whole.Trade active
Trade closed: stop reached
I'd of kept the stop at break even for this one, Stop would have been reached
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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.