Good morning everyone!
Bitcoin appears to have broken its consolidation down last night and is currently trading below this pattern. What I think is going on right now:
Bitcoin has been in a 100-day consolidation (the yellow lines) and has tried to break out of this several times in the past 2 weeks. The longer the consolidation, the more violent the outbreak. But if there's one thing I've learned as a trader, it's that after a heavy, long consolidation period like this, the breakout never happens without Bitcoin dropping a little fuckery. I expect we are in this fuckery right now. Bitcoin is breaking down and seems to want to find the bottom of the consolidation, however, I don't expect this to happen. The funding rates are once again negative, which indicates that the majority of traders are currently in a short position. This builds up liquidity at the top. I expect that this liquidity will be used to push Bitcoin higher and I therefore expect that Bitcoin will already make its reversal between 66.5 - 67.5.
Don't let emotion make you suffer. We are in a bull market and the next push up is close by.
Bitcoin appears to have broken its consolidation down last night and is currently trading below this pattern. What I think is going on right now:
Bitcoin has been in a 100-day consolidation (the yellow lines) and has tried to break out of this several times in the past 2 weeks. The longer the consolidation, the more violent the outbreak. But if there's one thing I've learned as a trader, it's that after a heavy, long consolidation period like this, the breakout never happens without Bitcoin dropping a little fuckery. I expect we are in this fuckery right now. Bitcoin is breaking down and seems to want to find the bottom of the consolidation, however, I don't expect this to happen. The funding rates are once again negative, which indicates that the majority of traders are currently in a short position. This builds up liquidity at the top. I expect that this liquidity will be used to push Bitcoin higher and I therefore expect that Bitcoin will already make its reversal between 66.5 - 67.5.
Don't let emotion make you suffer. We are in a bull market and the next push up is close by.
Nota
Bouncing, get fooled bears :-)Nota
69.4K. Never ever short in a bull market. We nailed the entry again!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.