1. Bitcoin is trading within a Golden Triangle. My early view it will {breakdown C} and launch a counter trend bear rally at the point identified as {Gamma A}. (most likely scenario)
2. After reading the featured article on "Short Squeezes, Gamma Squeezes, and the GameStop Drama" and see how the short sale specialist Citron's Andrew Left caught with his pant down, I think it is better to play safe and add another alternative scenario at {Gamma B} just in case the Wall Street Bet decided to teach Bitcoin's short seller a lesson.
3. Chart analysis in NY time zone. Have a safe journey.
2. After reading the featured article on "Short Squeezes, Gamma Squeezes, and the GameStop Drama" and see how the short sale specialist Citron's Andrew Left caught with his pant down, I think it is better to play safe and add another alternative scenario at {Gamma B} just in case the Wall Street Bet decided to teach Bitcoin's short seller a lesson.
3. Chart analysis in NY time zone. Have a safe journey.
Note
4. Thaipusam (28-01-2021 Thu) is a festival celebrated by the Tamil Hindu community on the full moon in the Tamil month of Thai (January/February), usually coinciding with Pushya star, known as Poosam in Tamil. (src: Wikipedia)5. This festival was said to have been supposedly created during one of the battles between the Asuras and the Devas. At one point, the latter were defeated several times by the former. (src: Wikipedia)
Note
6. The Golden Triangle is the area where the borders of Thailand, Laos, and Myanmar meet at the confluence of the Ruak and Mekong rivers. The name "Golden Triangle" was coined by the CIA. Along with Afghanistan in the Golden Crescent, it has been one of the largest opium-producing areas of the world since the 1950s. Most of the world's heroin came from the Golden Triangle until the early 21st century when Afghanistan became the world's largest producer. (src: Wikipedia)Note
7. The level above 35K will be like Train to Busan so based on normal common sense the whales will not dare to visit this area anytime soon. That is my simple logic why Gamma A is the most likely scenario. But do your own research as only time will tell this analysis is true or false.
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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.