Short

BTC TO THE MOON OR WHAT IS GOING ON!?

Updated

Hey! Looking at bitcoins price action from march to June I think most people would predict a downtrend back to 60-61k. In my opinion we do have strong support in the 66k zone. Which we are now bouncing out of and upwards! Combined with an oversold RSI on the 4 hourly and a weak bearish Macd (that will soon flip bullish). I would assume and have already put money on a long position with entry at 67008 usd with a 100x leverage. I will make this trade risk free as soon as I can but have to wait for the right market conditions. My stop loss is currently at 66834,7 (about 100 usd to lose at the moment) and take profit is at 71747 usd (about 3000 usd in profit). On this trade I started with about 440 usdt and feel confident that I will at least make some money with my strategy. I would highly advise you to risk free the trades if you are not using this concept.

Looking at the facts we did bottom out at the 66k area (support zone). You could also say that we got a double rejection here at the 4 hourly. On the smaller timeframes, let’s say 15min, we did form a smaller ascending triangle (bullish). It is also coming out from a strong support zone so these things combined could easily send us to 71-72k (these are major key levels at the macro trend). On top of that we do have a triple rejection inside the resistance of that smaller descending triangle.

I would assume that I got in at the perfect time and that we are heading towards the previous tops once again in the next day or maybe two to three days. Leaving me with about a 1000% ROI

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Here is a picture regarding how things could escalate

Here is a picture of the price bouncing between tops and bottoms. Remember that trends will change sooner or later!

Here is a picture of the bearish macd and the overbought RSI on 4h

We also has some very revealing price action that I think everybody should (at least those who are short right now) should take into consideration. Look at the picture above ;))

Enjoy trading guys!

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Looks like I had been getting a bullish tunnel vision. But quickly realized it would continue down which coincides with the first plan I had. I took some profits and then tried to long without any big success. After that Inwent back to shorting

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This might look extreme but we do have a gap at 20k on the BTC1! And according to the btc halvening chart I think we will get that 70-80-90% correction faster than any other time in the history yet. This is according to fractals and pattern recognition

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Whatever happens I will risk free my trade and make money anyways

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But if it turns out that we get a sudden drop to about 20k. Then I have turned my 100 usdt into 11000 usdt. This would be kind of cool

Madmantrades

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