BitcoinSingkat
BTC Short
BTC on the dailys is in a downtrend channel, possibly slight descending wedge.
While I do beleive some correction to the upside is needed at some point, I don't expect it to come here, we just broke a daily and weekyl support level, but haven't swept the lows of the previous wicks, so I don't think it was a liquidity grab before a move up.
This makes me think we're currently just seeing the retracement of the recent big sell off, so I'm looking to load shorts for the next move down that I'm predicting.
The 50 fib, double supply zone, and 4H EQ level all in the one area, with the downtrend coming to meet them, seems like a great opportunity for that short.
While I do beleive some correction to the upside is needed at some point, I don't expect it to come here, we just broke a daily and weekyl support level, but haven't swept the lows of the previous wicks, so I don't think it was a liquidity grab before a move up.
This makes me think we're currently just seeing the retracement of the recent big sell off, so I'm looking to load shorts for the next move down that I'm predicting.
The 50 fib, double supply zone, and 4H EQ level all in the one area, with the downtrend coming to meet them, seems like a great opportunity for that short.
Penafian
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