When to catch the falling knife?

Updated

I've been in doom mode for quite a while now. But bear market rallies are the best :D Usually they are fast and aggressive.

So here is a level of interest for me. I'll be watching it on LTFs for a trade decision.

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I think this is bad. Probably forget 54-55.

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I'm not even looking at crypto twitter etc. but I bet posts started to appear about how similar these 2 ranges are. But they are not at all.

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It's probably simple like this right now. Break 63k, it makes a new high. Else we go below 50.

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I had short on 2 alts and nothing else in crypto. Now I got myself a small 61.8k short. Let's see. If it doesn't work, close all shorts and probably have some longs on good charts.

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If this falls back down in the range, it'll be a good signal. BTC is often leveraged NASDAQ.

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Look at this. Make no mistake. Bears haven't made any money if any still alive. Extremely efficient market. It's incredibly hard to make money from shorts anyway. It's even hard to trust an exchange to hold your money in crypto bear markets. So forget about "Everyone is bearish" I'd say.

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It's above 63k but.. One, this is pump. I mean not a trend. "Fast and aggressive" Two, it's a weekend :D It's just written short squeeze written all over it.

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I mean it's bullish undeniably. But It could be just like May '21. Hit into the weekly resistance and die.

mitsandwits

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