DecisionDoji
Short

Bitcoin ( $BTC 4h) bears will be bears part 2

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Hello it’s me again. To understand today chart I invite you to go read the Part 1 of this post (link below).

The fractal nature of the market is undeniable. And after some real market progress, prices are bound to enter a distribution phase and then eventually a correction.





Legend: PSY= Preliminary supply / BC= Buying Climax / AR= Automatic reaction / ST= Secondary
Test / SOW= Sign Of Weakness / UT= Upthrust / LPS= Last Point of Supply
If you want to Learn more about the Wyckoff Method and the psychology behind the different phase go to: https://school.stockcharts.com/doku.php?...

As time goes by, I will keep you updated on the evolution of the asset price, so make sure to follow me on Tradingview
If you have any questions or requests, fell free to ask.
@Djio_
BTC:3L7VtbwdgQqDb3CpkwCbMc6yCGRNaGJvuJ
ETH:0x574C747712E1fecD2A786fbdE7785B588625f94B

Disclaimer: This is not financial advice as I’m not a financial adviser.
This is just my knowledge on what can be said and done from the chart.
Due to the volatile nature of the market, everything can change on a day to day basis.
Everyone is wise to manage their risk properly when considering any trading decision or activities.
Trade active:
Bitcoin has a lose sense of humor that I'm not getting.
I'm holding on to my short idea.
Comment:
Trade closed: stop reached:
BTC is only going up lately so I have to close my trade.
the establishment of new daily highs invalidate my bearish biais.


Even if the BTC go down I would prefer wait for a new pattern and a new setup before entering a short trade.

Comments

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