BTC - 2900 next!
Updated
There is no doubt in my mind that we'll get to 2900 next.
BTC has broken a daily support of 3500 and is heading down.
What happens when a support is broken?
You seek next support. As simple as that.
The trade could take between 24 to 36 hours but we'll get there eventually.
2900 happens to be a weekly support as well for BTC.
Looking at the hourly, we have just broken out of a bear flag.
BTC is far from bull run.
SHORT SQUEEZE has been in the cards for last 1 week.
SHORTs keep piling up everyday but that doesn't mean, people will stop SHORTing.
Can't really predict a SHORT SQUEEZE.
What am I doing?
I'm spewing that I closed my 4k SHORT at low 3700s.
I've SHORTed a small amount at 3270 after crossing the previous bottom of 3280.
I'll add to my SHORT if we make a retracement to mid 3300s or high 3400s.
What are my indicators saying?
My new indicator FOMO Momentum is saying that the 4 hourly timeframe is kinda maxed out. Which indicates that BTC is nearing some consolidation or the 4 hourly trend is close to reversal.
FOMO 4 hourly has been RED since 3800s and is in no trade zone atm.
When will I long?
I'll LONG once that downtrend line marked in Blue is broken. Until then, it's SHORT the pumps.
BTC has broken a daily support of 3500 and is heading down.
What happens when a support is broken?
You seek next support. As simple as that.
The trade could take between 24 to 36 hours but we'll get there eventually.
2900 happens to be a weekly support as well for BTC.
Looking at the hourly, we have just broken out of a bear flag.
BTC is far from bull run.
SHORT SQUEEZE has been in the cards for last 1 week.
SHORTs keep piling up everyday but that doesn't mean, people will stop SHORTing.
Can't really predict a SHORT SQUEEZE.
What am I doing?
I'm spewing that I closed my 4k SHORT at low 3700s.
I've SHORTed a small amount at 3270 after crossing the previous bottom of 3280.
I'll add to my SHORT if we make a retracement to mid 3300s or high 3400s.
What are my indicators saying?
My new indicator FOMO Momentum is saying that the 4 hourly timeframe is kinda maxed out. Which indicates that BTC is nearing some consolidation or the 4 hourly trend is close to reversal.
FOMO 4 hourly has been RED since 3800s and is in no trade zone atm.
When will I long?
I'll LONG once that downtrend line marked in Blue is broken. Until then, it's SHORT the pumps.
Note
Just had retest of 3540 support marked on my chart.Typical BTC BART move.
I've a Avg Short Entry of 3508 now.
Staying in it.
Got one more SHORT order at 3660 followed by SL at 3680.
Note
Note
And heading back down as expected after testing 3540Note
This is our Target
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