$BTC waiting for a rebound
Updated
Plenty opportunity has been given to enter short in the last 2 days: under the belief that we have some decent momentum to upside and a fake move in a sign of strength amidst bearish stock market pressures. In the expectation of liquidating shorts, aggressive price motion may require lower prices from here to create divergence and trap more shorts so that when the reversal to upside happens the market has the opportunity to trap longs
Currently looking for that 'W' formation to arise over the weekend. The SPX has a bullish doji candlestick so likely to get a reversal to upside for ' false move monday' that Bitcoin will utilise as a catalyst for short squeezing late shorts in the 24200-24700 region.
Some volatility can send BTC down to 22400 - 21700 this weekend, oversold prices and divergence could create an epic rebound on Sunday premarket, False Move Monday and premarket into the early hours of the US session on Tuesday.
Achieving the 'W formation' with either triple 1 hr bullish divergence or 4hr bullish divergence, I will cut half my short in huge profit and reload between 24200-24700.
Sign of strength could be construed as retest of 21800 and an aggressive counter trend rally
21800 would appear as significant unbreakable support and therefore a break of 25200 would be in the picture especially if;
Current top of sideways range of 23200 is broken with speed
Market can then trap longs at 23200 + into the belief of a 25200 break and liquidate the 24200-700 shorts
Lower High into an aggressive long squeeze into $19-20k territory
As per previous posts, I aim to hedge long against my short with low leverage I can build on from the 21 weekly EMA at approx 21k
Currently looking for that 'W' formation to arise over the weekend. The SPX has a bullish doji candlestick so likely to get a reversal to upside for ' false move monday' that Bitcoin will utilise as a catalyst for short squeezing late shorts in the 24200-24700 region.
Some volatility can send BTC down to 22400 - 21700 this weekend, oversold prices and divergence could create an epic rebound on Sunday premarket, False Move Monday and premarket into the early hours of the US session on Tuesday.
Achieving the 'W formation' with either triple 1 hr bullish divergence or 4hr bullish divergence, I will cut half my short in huge profit and reload between 24200-24700.
Sign of strength could be construed as retest of 21800 and an aggressive counter trend rally
21800 would appear as significant unbreakable support and therefore a break of 25200 would be in the picture especially if;
Current top of sideways range of 23200 is broken with speed
Market can then trap longs at 23200 + into the belief of a 25200 break and liquidate the 24200-700 shorts
Lower High into an aggressive long squeeze into $19-20k territory
As per previous posts, I aim to hedge long against my short with low leverage I can build on from the 21 weekly EMA at approx 21k
Note
long signal with OBV oscillator with divergencesmust confirm it with rsi bullish div and wavetrend with crosses curling up also
Note
update here:
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