BTCUSDTPERP 12.29.2021 Daily/Weekly Update
Update for Market Statment:
Bearish Confirmation: 45.5k Bearish Invalidation: 52130$
Bullish Confirmation: 52130$ Bullish Invalidation: 45.5k
For me market structure is still showing weakness and there is not yet any clean bullish breakout.In that case untill we don't break 52130$ i will looking for pullback to catch short entry. For me crucial zone would be 49.4-50.5k that should be very strong Rejection area. That is not just algo and fib levels good entry that is also strong horizontal resistance. For me that is best area for the short. Most likely in next 24-36h we will get test of that area untill we don't get strong rejection or strong brekaout. TO be fair Bearish leading me for now. Once bulls pump price into my zone of interest i will try to find as much as possible "perfect entry" and from there i will be looking for take profit something around 40k to 37.8k area. After that for me that would be temorary bottom and from there we can go up around around 50% from my take profit which is around 60k. If this happen as i have this trading idea for me most lijkely that will be just 1st leg down of whole structure which means bull run is ended and bearish structure just started to forming. In that case most likely we can see us in near future for example 6month or more around 24k or lower.
With Respect Your Rhino Aka Bear!
Bearish Confirmation: 45.5k Bearish Invalidation: 52130$
Bullish Confirmation: 52130$ Bullish Invalidation: 45.5k
For me market structure is still showing weakness and there is not yet any clean bullish breakout.In that case untill we don't break 52130$ i will looking for pullback to catch short entry. For me crucial zone would be 49.4-50.5k that should be very strong Rejection area. That is not just algo and fib levels good entry that is also strong horizontal resistance. For me that is best area for the short. Most likely in next 24-36h we will get test of that area untill we don't get strong rejection or strong brekaout. TO be fair Bearish leading me for now. Once bulls pump price into my zone of interest i will try to find as much as possible "perfect entry" and from there i will be looking for take profit something around 40k to 37.8k area. After that for me that would be temorary bottom and from there we can go up around around 50% from my take profit which is around 60k. If this happen as i have this trading idea for me most lijkely that will be just 1st leg down of whole structure which means bull run is ended and bearish structure just started to forming. In that case most likely we can see us in near future for example 6month or more around 24k or lower.
With Respect Your Rhino Aka Bear!
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