Short

Updated

BTC BULL TRAP SHORT

Below the short I was building and updating under a different idea. SL above recent high, tp 14-13k

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More liquidations on the long side in general. If a greater move would about to happen there is over twice as much money to grab from longs in $2k range. We never know for sure in which direction BTC will go, but in theory it would make more sense to retrace to 22600 instead of going for 26600

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Top currently at around 25356 so You want SL bit higher than that. Time is not in our favour but we'll soon know the direction

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And we reject again. Some high leveraged positions liquidated on shorts side making it even more empty that it was. Casino has no reason to push it higher but we're still waiting

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It's great to see how everyone was so bullish one hour ago to now look at bitcoin fighting for survival. Let's see if the dump will continue

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BTC went for liquidations but no continuation. Bad sign

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Very likely we are going for liquidations at 25k

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Used this opportunity to have a better grip over my shorts. Scalped it and reduced some positions right before bounce and added back now

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Moved my stop to 25500 based on current liquidations. Again no reason to pump from here because there is no money to grab all the way to around 26.5k

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Nice expected the last breach and dump but we broke the top only on futures. I think we may be ready for dump. Let's see if it works

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I'm not sure about 4 hourly chart. It does not give us continuation wibe but we'll see soon

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In general we cleared liquidations on shorts then longs. Now we have big gaps so a big move is coming. It looked very bearish so they may pump it now. Be wary

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Still can't see continuation with stock market being on our side. Liquidations also on our side but btc does not react too strong

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Maybe now

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Like I said. No continuation. Nasdaq down, btc barely moves. Nasdaq up and we are back into 24600

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What we hope for now is a nice bear flag that will lift the indicators up a bit to perform a fake bounce to start a proper crash. Some new triggers in crypto would be helpful in accelerating the fall too

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From liquidation point of view there is 5 times more money to take from retail if they go 28-30k. And that is not a good sign. Everyone is shorting after what happened today and that's not what we want. It can still pump guys

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My plan for this is to open a long position with a stop below today lows and hedge if we pump. If not we likely will see continuation on btc

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Not bad closed the hedge at 24244 as it was getting ready for breakdown. Nice dump comming

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22-18k should be easy

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Make sure to lock some profits if we gonna get there

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They're fighting. Some liquidations kicked in and now it's either 22k or nearly the same amount at 24800. Hope we can get a nice h4 close below 24280

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Things are looking good. We've got some confirmations to support this setup. DJI broke down. Nasdaq fighting for a bounce but it's not looking too great at the moment

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the only thing that bothers me is that we may go for liquidations around 24800. If we are going to reach this level we need to look if market continues or goes back down

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close below ~23700 would be perfect for us

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Just make sure you lock a bit of profit now so in case it totally reverses for some reason You had some profit and if it stops You out You are bothered and can cover the stop loss cost

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and that's exactly what I was talking about. It's a crucial level from which we may go for liquidations at 24800 and see if it continues to the upside or not. I locked some profit in so even if we get stopped out I'm still getting away with some money

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and we got a break. see if it holds

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Looks like we gonna get a 4h close below the resistance now. Opens a way to 22k

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next take profit at 22k, lock some profit and keep the rest till stopped out

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One hour until fed minutes. 24800 liquidations still on the table

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nothing happened. We're holding the resistance well

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Ok they are going for the final liquidation of shorts I guess. Taking some profits below was a good choice. US GDP in 4 hours and 15 min. What they can do is to stop everyone out today and form another bull trap. If that will happen I'll open shorts again

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nice, the chances of us getting stopped out are shrinking. Still being wary that they may pump on GDP but there is no point to change anything. Setup is working

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Gdp lower than expected jobless claims better than expected but less important

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PCE and new home sales tomorrow. I speculate that we may pump on PCE and then dump on home sales but to be honest it may also do totally nothing like with GDP today (laughable)

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8 min until PCE

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57 min until new home sales. PCE good for us but the move wasn't massive. It broke down the bear flag on small tf so not bad

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New home sales better than forecasted. Direction remains bearish anyway

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The stock market looks absolutely shit on high time frames. It makes no difference if we gonna lag behind for a bit. Crypto will catch up very quickly when ready

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We're winning lads

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NASDAQ is in the potential bounce zone DJI as well. Tons of liquidations on the short side and temporary invalidation of further drop. Opened a small long position. If we drop below 22722 I will add to shorts. Plan remains the same. Took some profits and gonna switch to long if we breach the top

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added some shorts at 23434

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took another scalp and added shorts ad 23739

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No way. We dump again lol

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Weekly chart looks like massive poo poo

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closed some profit from what I added before

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We are testing bottom of the bear flag for 3rd time now with a bit more weakness than previously. Maybe this time it will let go. Holding on to my positions

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Nasdaq looks like it's headed for a bounce :/. Hoping btc will not follow too hard

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Just closed some profit

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Currently the best case scenario is ~21400 - ~17300. If we break below 21400 the best case scenario is 17300-13000. If we go even lower cause some kind of world events the best case scenario is around 4700

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Opened short on YFIUSDT. SL at 11530

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Opened long position on XRPUSDT, XRPBTC chart breaking out on a D1 time frame. SL below H4 local bottom

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Closed some profit on YFI moved stop above the top on a daily chart

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Added to xrp long

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added to xrp last time

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Opened a long in btc with stop below today low. Closed almost all of my shorts. Holding 1/5 just in case

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What we are seeing here is exactly the same play we made here when BTC was going down to 21500 and bounced. Lot of fear after the drop to 22k, breach the lows and quick move to the upside. We may see the wyckoff accumulation pattern playing out and move to 28k

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Closing below today bottom invalidates the long setup

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Xrp to the moon

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Btc filled this gap, ready to pump I guess

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Xrp looks like it wants to taste 90 cents

eryklct

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