BitcoinShort
Contrarian View on Bitcoin
Here's what we know:
Halving is in 3 days.
Long Open Interest is very high
Key resistance level is 10,500
We've ran up for 8 weeks straight.
Who's got the most to gain when the scale is tilted to one side? The exchanges do.
So putting it all together, I think come Monday, it will be a sell the news event.
It looks like we are forming a potential inverse H&S:
left shoulder at 6,500
head at 4,000
potential right shoulder at 6,000- 6,500 ( would line up nicely with overall weekly trendline)
Would be very interested in hearing your feedback! Feel free to tell me I'm out of my mind and BTC is going to the moon.
Happy trading fam
Halving is in 3 days.
Long Open Interest is very high
Key resistance level is 10,500
We've ran up for 8 weeks straight.
Who's got the most to gain when the scale is tilted to one side? The exchanges do.
So putting it all together, I think come Monday, it will be a sell the news event.
It looks like we are forming a potential inverse H&S:
left shoulder at 6,500
head at 4,000
potential right shoulder at 6,000- 6,500 ( would line up nicely with overall weekly trendline)
Would be very interested in hearing your feedback! Feel free to tell me I'm out of my mind and BTC is going to the moon.
Happy trading fam
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