Bitcoin Long
Updated
Short Traders trapped....
The downmove is overstretched in price and time. Despite the pressure, the short sellers were unable to push Bitcoin further down. Now that Bitcoin pushed down again on Friday but didn't make any further progress, it's time to collect liquidity from the shorts.
The downmove is overstretched in price and time. Despite the pressure, the short sellers were unable to push Bitcoin further down. Now that Bitcoin pushed down again on Friday but didn't make any further progress, it's time to collect liquidity from the shorts.
Note
The pain is getting bigger and bigger for short sellers. Those who saw it coming are already out. The stubbornness will be stopped out. That could further accelerate the upmove.Note
I'm now expecting a contraction lasting several hours. Then a push above the 64,000 mark. Here you should think about taking profits and setting tighter trail stops.Trade closed manually
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