Bullstrap
BTC Giant bull trapTo me 3 things are obvious:
1. The latest BTC spike is abnormal. It occurred for no apparent reason and coincided with bitfinex maintenance.
2. The spike came at a time when bulls are losing steam and someone could argue that it looks like a BIG FLASHING NEON SIGN urging them to re-enter the race.
3. Nothing defies nature's laws, and what goes up will come down.
Conclusion:
"What you don't know, won't hurt you, it'll kill you. Like if they tell you you're going to shower but they turn out not to be showers."
and since it seems that I do not know a lot about the recent events I decide to stay out of the market until things start to make any sense.
MLNT: High Probability ShortIf you can find shares to short, this is a high probability set up.
Half way point: First Target
Buy to cover zone: Second Target
Keep in mind fees to short this POS could be high, nonetheless the set up has great risk/reward.
Entry points: Intra-day double-top (if it makes it there)
After next red day, place sell order below that day.