#BTC market analysis 9/4
Yesterday the bulls have completed their mission—rising 5,000 dollars from the bottom. Although price broke above the previous high, you absolutely must not chase longs; the uptrend likely won’t continue. Instead, a pullback is more likely.
There are two bearish (short) ideas:
1) Look for an opportunity to short directly. Set the stop-loss at yesterday’s high (82282) and the target at 79,300. This trade is more like “adding blood to the blade,” so the win rate will be lower.
2) If, during the night, the NFP spikes upward to the 82828 area, then after the liquidity sweep there may be an even larger drop. This location is relatively more reliable.
Yesterday the bulls have completed their mission—rising 5,000 dollars from the bottom. Although price broke above the previous high, you absolutely must not chase longs; the uptrend likely won’t continue. Instead, a pullback is more likely.
There are two bearish (short) ideas:
1) Look for an opportunity to short directly. Set the stop-loss at yesterday’s high (82282) and the target at 79,300. This trade is more like “adding blood to the blade,” so the win rate will be lower.
2) If, during the night, the NFP spikes upward to the 82828 area, then after the liquidity sweep there may be an even larger drop. This location is relatively more reliable.
