Short

Smaller TF of my large wave count

By RT1973

Updated

Just a smaller TF to watch of my main idea posted for wave count

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Sell The Bart Flag

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Bulls had a very good retracement, added more shorts at $44710

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Unexpectedly, Bulls managed to push higher. I guess there is no end to top FOMO, seems to happen every cycle.

Expecting max. retracement of 88.6% of 49k top before crashing to 30k Trendline

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I will be adding more shorts at 47.8k ready for the rug pull on the monthly/yearly chart

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SHORTS ENTERED 2X Leverage 50k @ $46.670
Happy Capitulation 2024, lets go!

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ugh stupid typos above, entry was $47,670 called just as i entered it
tradingview.com/chat/m/8faca6bc-8897-4de4-bd2d-545bf9286a62/

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If you are long, you want to TP here, and buy back after a pullback on the weekly

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I dont think this last push up was anything more than a liquidity hunt at the top of the year long rising broadening wedge and my trade plan is unchanged.
I am currently underwater on my shorts from $48,307 at 2x Leverage

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Its also worth noting that there is a huge bearish divergence that has been building since Oct 2023, for comparison it is almost twice the size of the bullish divergence at 15k that brought us up here over the past 12 months.
A huge drop is coming, its just a matter of time, and the chances of nailing the exact top are almost impossible duie to all the mainstream hype and fomo in the markets.
Best thing to do imo, is keep opening shorts above. Some will get filled, some wont.
The Rug Pull is coming

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To Improve my average sell order price i am doubling up on my short position. This will be my final short entry on this idea, If we break 52300 i will close my position at a loss and have a rethink, but until then, the top of this bearish wedge i believe is the absolute top, before the crash. We shall see.

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History will prove if i'm just a delusional idiot or not, but i have decided to keep my shorts open, i have added an extra 30% cash to my trading account for additional margin, and have increased my exposure by a further 10% with smaller limit sell orders between 52.0k and 52.8k. Its do or die time lol. I dont use stop losses so wish me luck.. or dont ^^ happy trading

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RT1973

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