YOU SHOULD BE CAREFUL IF YOU ARE LONG!📢
Updated
Hello trader fellas.
As you can see in the chart I have clearly explained my thought about bitcoin projection.
Price is in a clear down trend for the midterm and nothing has changed yet.
To support my idea I would like to mention that, reaching to a deal about debt ceiling might stop a catastrophic event for economic but, there are still other factors to consider.
1.Debt ceiling deal will cause a hike in unemployment and might cause a negative GDP growth.
2.Federal Reserve intends to increase rate hike with a chance of 60% this month and 100% in the next two months. (interest rate top meant to be at 5.25% but now it stands at 5.75%)
3. There has been an increase in miners sells which is also negative.
4. Government Bond yields are making divergences VS S&P500 which is pointing to a bubble in stocks market.
5. PCE data was not interesting.
6. The number of Bankruptcy in USA is going up, Germany is in an official Recession.
7. USDT.D Is gaining strength it is good to look it up sometimes.
I THINK BITCOIN IS STILL A RISK ASSET NOT A SAFE HEAVEN YET, THEREFORE WITH CURRENT MACRO AND MICROECONOMICS THERE IS NO REASON FOR FURTHER UPWARD ABOVE 30K.
KIND REGARDS
ARSHIA DARVISH
As you can see in the chart I have clearly explained my thought about bitcoin projection.
Price is in a clear down trend for the midterm and nothing has changed yet.
To support my idea I would like to mention that, reaching to a deal about debt ceiling might stop a catastrophic event for economic but, there are still other factors to consider.
1.Debt ceiling deal will cause a hike in unemployment and might cause a negative GDP growth.
2.Federal Reserve intends to increase rate hike with a chance of 60% this month and 100% in the next two months. (interest rate top meant to be at 5.25% but now it stands at 5.75%)
3. There has been an increase in miners sells which is also negative.
4. Government Bond yields are making divergences VS S&P500 which is pointing to a bubble in stocks market.
5. PCE data was not interesting.
6. The number of Bankruptcy in USA is going up, Germany is in an official Recession.
7. USDT.D Is gaining strength it is good to look it up sometimes.
I THINK BITCOIN IS STILL A RISK ASSET NOT A SAFE HEAVEN YET, THEREFORE WITH CURRENT MACRO AND MICROECONOMICS THERE IS NO REASON FOR FURTHER UPWARD ABOVE 30K.
KIND REGARDS
ARSHIA DARVISH
Note
I forgot to provide the setup.entry at pullback to 28250
SL / 28500
1st TP 25450
DYOR before taking any trade BECAUSE YOU ARE RESPONSIBLE FOR YOUR GAIN AND LOSSES.
Note
HIT THE BOOST AND FOLLOW IF YOU LIKED MY IDEA.Note
ARE YOU THERENote
USDT.DNote
Note
you can enter with half of your position now, usdt.d made a divergence and a strong rejection at support.
Note
It ain't no good.
Trade active
Note
only go with half volume of what you usually go.Note
target is 26900 you can sell half of your position there put your stop loss at entry and wait, we will go short at 28250 if we go thereNote
bring stop to entry and risk free your positionNote
close your position and wait for a better entryTrade closed: target reached
well it happened but i expect a rebound to 28400Note
if it is not gong to go back up now then we will go to go lower 25k
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