good evening,
looks like the attempt at the short squeeze has failed, and it was almost expected.
---
>btc broke down below a key algorithmic weekly channel.
>playing out a sequence of bearish impulses to the downside.
few key levels to keep an eye on:
24~25k (monthly 55ema)
24k = -0.236 of wave 5 of the impulse going down.
23k = 100% extension of the larger move down from 68k
21k = michael saylor gets a margin call
19k = 123.60% extension of the larger move
14.6k = 1.618% extension, aka expansion target.
where it stops is beyond me, but i can theorize \ try at ever level with a very tight stop.
ps. there is a full moon on 5\15, a historical indication of a local bottom \ bullish reversal.
ps.2. despite the 60% decline since november, people still seem to be bullish (myself included lol), which makes me think there's more pain to come. when despair sets in, the bottom will be near.
✌
looks like the attempt at the short squeeze has failed, and it was almost expected.
---
>btc broke down below a key algorithmic weekly channel.
>playing out a sequence of bearish impulses to the downside.
few key levels to keep an eye on:
24~25k (monthly 55ema)
24k = -0.236 of wave 5 of the impulse going down.
23k = 100% extension of the larger move down from 68k
21k = michael saylor gets a margin call
19k = 123.60% extension of the larger move
14.6k = 1.618% extension, aka expansion target.
where it stops is beyond me, but i can theorize \ try at ever level with a very tight stop.
ps. there is a full moon on 5\15, a historical indication of a local bottom \ bullish reversal.
ps.2. despite the 60% decline since november, people still seem to be bullish (myself included lol), which makes me think there's more pain to come. when despair sets in, the bottom will be near.
✌
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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.
i only share a tiny fragment of my ideas on this platform. to view my daily work, join the lunar syndicate 9 👇
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.