BTC made descending triangle what means continuation pattern. We should make another lower low. Most of indicators are bearish biased but the high number of shorts can result in short squeeze/stop hunting and then finally go down.
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I am not convinced about upcoming move. All indicators show that it goes down (triangle, pennant, below emas, numerous lower highs) but rising number of shorts make me cautious and I wouldnt be completely sure about dump.
I will open short below 9310
I will open short below 9310
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Ok! As I expected we saw short squeeze which hit very nicely in 200 1hEMA and 50 4hEMA (which is almost the same) and acts as very strong resisitance. Now number of longs is rising fast and we have a lot of fuel to make another lower low. Good luck!
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BTC went more volatile than I expected but it is still good sign. I open my short.
Target: 6100 or lower
Stop Loss: 7120
Target: 6100 or lower
Stop Loss: 7120