BTCUSD LongsShort
Through the Eyes of the Market Maker Part 2
This is a progression of a prior idea. Highlighted as per linked idea below.
This BTC rise feels sponsored. I am thinking we may see a rejection at resistance now around 6600 or soon around 6800.
A break above 6800 might cause a small run in retail FOMO and longs may build. Once Longs chart starts sloping upward, I will be prepared to dump. As of now, it's getting dicey IMO.
We have also now learned the market's propensity to sell alts when BTC runs. This betrays the market's positive sentiment for BTC, which means that liquidity and longs can build very quickly.
***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.***
This BTC rise feels sponsored. I am thinking we may see a rejection at resistance now around 6600 or soon around 6800.
A break above 6800 might cause a small run in retail FOMO and longs may build. Once Longs chart starts sloping upward, I will be prepared to dump. As of now, it's getting dicey IMO.
We have also now learned the market's propensity to sell alts when BTC runs. This betrays the market's positive sentiment for BTC, which means that liquidity and longs can build very quickly.
***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.***
Learn to trade like a hedge fund pro. Send me a message if you have any questions.
Related publications
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.