Bitcoin
Short

Time to short, back to 64k

Updated
With 3 recent liquidation that happened previous week ( one on Wednesday because of S&P drop , one on friday because of tether news and one on Saturday because of Israeel attack on Iran)
I dont think buyer are in control anymore , price is pumping on low volume weekend so that whales get out of their positions before the US market opens tomorrow .
Idea is simple with all this risk and heavy selloffs, it's very reasonable to atleast go to lower part of trendline at 64k before starting another leg up if Trump gets elected
Trade active
Shorting from 67.8 will scale up my short if it keep going up like this without any correction


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Also there is some textbook setups here that for very short term will bring us back to 67k
Trade active
I like how most people are super bullish while BTC clearly making lower high in past two weeks , sign of major drop is everywhere . adding more to shorts at 68.3
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Adding more shorts 69 and one final big short order 69.7 above previous high in case they decide to take shorts stop loss , stop loss is closing atleast 2 , 4-h above 70k . All shorts are 6x leverage
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Idk who is moving BTC in recent times , but chart clearly has some nice symmetrical patterns 15 4-h downtrend 6 4h uptrend 6 4h downtrend and now 15 4h uptrend
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In bigger picture we are still testing final monthly resistance before 75k , if it close monthly above 69k in 3 days then maybe we could see 75k next month but right now still no close
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Considering GANN lines we close weekly above white circles but I dont think it's enough if we zoom in we can see US session on friday and Japan session on Friday and today both close bellow it , so IMO this shouldnt still be enough to start another rally toward 75k but I try to be neutral here , if it goes above previous high at 69.5 and US session also start buying I will close my shorts in loss
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US equities on 4-h is at a resistance area , we should be very close to the end of this move
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169 S&P 500 company will report earnings this week , this should be one of the most volatile weeks for BTC , be careful guys not to lose money on wild moves
Trade closed: stop reached
Stop criteria hit, closed all with loss at 71.
BTC is in process of milking short sellers .
But whatever , if it's a genuine breakout then open interest and price should not drop any more
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I won't switch to long just yet , if it's a true breakout then price will go above 75 and stay there and open interest will make new range above its previous highs ( right now it's making new high) , there is no rush or FOMO for me, if it stays above 75 I will buy and set my target 20% higher (85k) because BTC new range usually are at least 20% wide
In next 10 days we will have new interest rate decission by Fed , election , a lot of economy data , +200 company will report their earning if BTC manage to survive all this then the chance to continue uptrend will be pretty high
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But there are things also to consider again most of this move from 66 up to 69 happened on lowest volume of days on weekend ,US only move it from 69 to 70 , even this breakout of 70k is happening outside of US session ,
also most of this move caused because of short sellers liquidation,only after first round of liquidation we can understand if there is enough buyers or not, retesting at least 67k is still on the table
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