Good morning traders,
My apologies for not posting any technical analysis over the past few days. I've been feeling a bit off and thought taking some time away from the charts and tradingview will clear my mind.
In my previous post I did state that if we broke $33,777 we'd likely go for a rally to the upside which appears we have broken above the falling wedge, or descending triangle (however your mind see's the market), however funding is still high and paying shorts right now, plus we're at resistance and I'm sure some big traders are now taking profits on their previous long position and looking for a short term pull back.
Once we lose $37,000 and flip it back into resistance (supply area), it's likely we head back to the (demand area) which would also bring us relatively close (or spot on) to where we broke out from the descending triangle, and either be a good buying opportunity, or sell pressure continues and this would yet be another fake out before heading back to lower support levels.
Plus with the microstrategy bitcoin press conference today, I'm sure these big institutions with billions of dollars aren't going to just buy in at $37,000, they would be looking for a pull back like any good trader or investor would be instead of buying resistance. I'm sure FUD will be spread across the market so they can achieve the entries they desire.
(Get this technical analysis to 30+ likes if you want more posts from me in the future) 👍
My apologies for not posting any technical analysis over the past few days. I've been feeling a bit off and thought taking some time away from the charts and tradingview will clear my mind.
In my previous post I did state that if we broke $33,777 we'd likely go for a rally to the upside which appears we have broken above the falling wedge, or descending triangle (however your mind see's the market), however funding is still high and paying shorts right now, plus we're at resistance and I'm sure some big traders are now taking profits on their previous long position and looking for a short term pull back.
Once we lose $37,000 and flip it back into resistance (supply area), it's likely we head back to the (demand area) which would also bring us relatively close (or spot on) to where we broke out from the descending triangle, and either be a good buying opportunity, or sell pressure continues and this would yet be another fake out before heading back to lower support levels.
Plus with the microstrategy bitcoin press conference today, I'm sure these big institutions with billions of dollars aren't going to just buy in at $37,000, they would be looking for a pull back like any good trader or investor would be instead of buying resistance. I'm sure FUD will be spread across the market so they can achieve the entries they desire.
(Get this technical analysis to 30+ likes if you want more posts from me in the future) 👍
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This market is bullshit
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$34,333, won't be hitting buy until then. if this level fails to hold then this market is a fucking scam
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$34,333 is where I'm looking to long next. with a tight s/l
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curious to see if asia will sell off tonight, stay tuned
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if this doesnt break today this market is trash and only up which is garbage, i guess stupid bulls really make more money than bears. shorting apparently doesnt exist in trading anymore
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ive wasted a year learning how to trade when all you need to know is buy and hold.
fuck trading, fuck shorting, fuck this year.
ill never short again, only fucking buy and hold but im taking a long break and will only invest from now on.
selling is a fucking scam and so is trading
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i'll be back as soon as my car is on the road and ive found a full time job.
then i'll never hold a short longer than 24 hours again and if it is in the red I'LL CLOSE.
Trade closed manually
elon musk put 10% of telsa into bitcoin
$1.5 billion
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.