#Btc
Why are you bearish on Bitcoin? There are still many people who chased in yesterday when Bitcoin was about to break out, only to have losses this morning, and are now preparing for a pullback to keep going long?
I can’t be certain that my view is definitely correct, but I’m sure you’ll agree with my logic.
If there really is a breakout, it will most likely be in the last two or three days of the month. So shorting at this time at a resistance level is definitely wrong.
Chart structure is crucial. After Bitcoin dropped to 55K and formed a base, it rallied and went through three monthly candles, without again poking the lows to test. At this point, should you be cautious when chasing a long?
In terms of structure and formation: if it’s truly going up, then over the next several monthly candles it will most likely consolidate below the Bollinger Band middle line for at least two or three candles. Even if it can still push higher, the upside space in the short term is at most 85,000. You’re taking such a big risk to chase those 2,000–3,000 points of profit—you’re definitely an amateur!
Why are you bearish on Bitcoin? There are still many people who chased in yesterday when Bitcoin was about to break out, only to have losses this morning, and are now preparing for a pullback to keep going long?
I can’t be certain that my view is definitely correct, but I’m sure you’ll agree with my logic.
If there really is a breakout, it will most likely be in the last two or three days of the month. So shorting at this time at a resistance level is definitely wrong.
Chart structure is crucial. After Bitcoin dropped to 55K and formed a base, it rallied and went through three monthly candles, without again poking the lows to test. At this point, should you be cautious when chasing a long?
In terms of structure and formation: if it’s truly going up, then over the next several monthly candles it will most likely consolidate below the Bollinger Band middle line for at least two or three candles. Even if it can still push higher, the upside space in the short term is at most 85,000. You’re taking such a big risk to chase those 2,000–3,000 points of profit—you’re definitely an amateur!
