Controversial but I will be trading this.
Updated
First we will inch along the bottom channel till the CME gap ~9700 Sats. Market sentiment is insanely bullish and people will be fomo'ing in as its being marketed as the 'last chance' to grab bitcoin under 10K, we are going to the Moon etc. Dumb money comes pouring in, opening long positions on high leverage with targets at recent highs of 12200+, 13800 etc. Smart money is waiting right at the first resistance past 10500 at 11100-11300 to dump, shake out weak hands and increase their bags as BTC dumps. Followed by complete recovery in ~40 days and then we are truly off to the moon.
Comment
On a second thought, I will be shorting at the 0.5fib which aligns with the top of the our descending channel. This week is going to be a roller coaster!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.