As you know, we are not supporters of using this tool, and even if we use it, it is done exclusively without shoulders.
Personally, in 95% of cases we prefer to sit in the cache instead of shorting and we are ready to open it only if there is a small stop and a good technical picture. What happened just yesterday, and today all the bearish local picture has already broken.
We recommend refreshing your memory of our old post 👉 Why is shorting crypto almost always unprofitable?
Now Bitcoin is actively storming the $30,000 mark and many are probably tempted to go short. Unfortunately, most likely a full-fledged breakdown of this mark will occur today, after which an upward impulse will follow, which will be absorbed back to $30,000. If the price fixes above $30,000 on the weekly timeframe, we can expect the rally to continue to $32,500.
🚨 We want to warn you against using shorts in the current situation:
First, be sure to read our old post about shorting the crypto market.
Secondly, Bitcoin is now growing at very low liquidations, which means the growth is organic through spot purchases.
Thirdly, do not expect a sharp collapse after such growth. Now the ideal scenario for further developments is for Bitcoin to go sideways for 2-3 weeks at current levels. As a result, liquidity will begin to flow a little into alts and you can make good money there.
Fourthly, if it consolidates above $30,000, it is worth working from a long position.
Fifthly, hidden bullish divergences have formed on small timeframes.
Sixthly, there is a strong pressure to the level of $30,000. Here the effect of a compressed spring increases.
🩸 At the same time, do not forget that a Head and Shoulders or Triple Top reversal pattern has been formed on the chart. Which has a high probability of working out. But there is still quite a lot of time before the pattern is worked out (a couple of weeks or months).
Current markings on the chart; if changes occur, we will make changes. The ideal scenario is a breakdown of $30,000 👉 a few weeks of Bitcoin sideways 👉 growth of alts 👉 market collapse.
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