Possible short on BTC (WIP) Just a sketch

Oct 4, 2022

Zero Analysis other than another bear market rally fueled by hopium. I do have a very small weak long in play, and intend to buy the sh*t out of a sweep of this year's lows, but I don't think we get that yet. Red ellipse would be two meme-lines (that's all they are) of resistance. I think we do get a false break above 20K, at which point bears would drive price down. We might need a fundamental catalyst for this however. I doubt I will be taking that bet, but I like to look at all possibilities...I don't think this story is over, and at the very least, we might just walk out of the first descending line of resistance and have price range for several months without any meaningful move up or down.

For the record, Short term bearish, long term bullish, medium term sideways.