BTC: Rinsed out in the range

I don't like shorting bitcoin, because y'know, you get short, then it rallies $1,000 in one 15-minute candle. Kinda scary ...

However, we have a potential setup to short or exit longs and rebuy lower, IF, btc follows this fractal taken from March.

What's in favour of the fractal playing out?

• Still a lot of bulls, longs are high and max pain would be to the downside
  
• Still a lot of bears, whipsaw up to 9k would take a lot of those guys out too
  
• Resistance at 9k (the 9-10k range was a wide distribution area)
  
• Support at 7k. (The 6.5k - 7k range was a wide accumulation area)
  

It remains a traders market. No clear trends. Quick in & out and ensure that risk is managed is the right way to play it.

Комментарий:

Edit: MA positions are bearish. Downtrending MAs suggest continuation down. Volatility also hots up as price declines so it gets harder to trade unless you ninja on the stops and limits

Комментарий:

Zoom in ... What did I say about not shorting bitcoin? ... ;)

Комментарий:

Here's that fractal close up. Did any of you expect BTC would rally to 9k almost?

Now if it dumps are you expecting that? Both are possible ...

Комментарий:

I took profit here. Awaiting next move