BTC Big short oppurtunity- Short the Rising Wedge
Atualizado
We had a massive rising wedge breakdown, and are now looking to form another bearish rising wedge that will very likely breakdown again. Perma Bulls are still in denial and called a " bull market" at precisely the top and we dumped hard. Until a bitcoin -0.87% ETF is approved by the SEC or the Bakkt crypto exchange is operational, we will NOT be in ANY Bull market to make things clear. These things can happen as soon as September 30th or as late as a year or two. From the resistance area , We dumped after hitting extremely overbought levels on stochastics, tom demark 13 count on the Daily chart , and yearly downtrend resistance. The trend is clearly in favor of the bears right now and this uptrend is just a pause for bears to reload shorts. Best to scale in shorts at the 6500-6800 area.Target for the short is 5.2-5.6k within 1-2 weeks. I expect all time yearly lows to be hit within the next two weeks and a new lower market cap. Despite the short term being very bearish I feel October will be a bullish month.
27 minutes ago
Comment: Also MACD is bearish on the Daily chart, so we have more room to go. Weekly MACD crossing bullish is not relevant. Whats more important is that a rejection of a bullish weekly MACD crossover is very bearish.
27 minutes ago
Comment: Also MACD is bearish on the Daily chart, so we have more room to go. Weekly MACD crossing bullish is not relevant. Whats more important is that a rejection of a bullish weekly MACD crossover is very bearish.
Nota
Price is near 6460-6550 range, I would add your shorts here, doesn't look like 6.7k will happen
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