Bitcoin VLOG #48 - The 40k tease
A ton of volatility again today.
So apparently that pump was off some amazon fake news??!! For real?! That's all it took?! Imo lets not ignore the fact a ton of money was just itching to jump back in on any pump.
Then some tired old recycled tether news dumps us... I'm pretty over the news for crypto. Think I prefer tracking all this from a purely TA-centric perspective.
There was a lot of opportunity for shorts at 40k a day ago, then we got another opportunity for it today. After so much buying, there will always follow selling.
Right now we are significantly over bought, what are the odds of a 7th and 8th green candle daily? Historically how often do we have major sell off after this much green?
MY PREDICTION = I'm feeling high volatility ranging between 35k and 40k. My bearish hackles are up. I feel a bit more confidence on 40k shorts than I do a 36k long... I dunno. I got no real prediction for yahs today!
Shoutout to todays trading view ideas =RocketBomb - reminding me of that descending channel!
=== TimeStamps ===
0:00 = Welcome
0:30 = BTC 1 day
1:25 = BTC 4 hour
2:00 = FUD and FOMO news
4:10 = Not new channel
7:40 = Moving averages
8:50 = Tentative trend line
12:30 = BTC 1 weekly
13:00 = Cryptopanic FUD n FOMO
16:40 = BTC 1 monthly
17:55 = NO PREDICTION!
19:00 = Even more green coming?
19:30 = Closing words
So apparently that pump was off some amazon fake news??!! For real?! That's all it took?! Imo lets not ignore the fact a ton of money was just itching to jump back in on any pump.
Then some tired old recycled tether news dumps us... I'm pretty over the news for crypto. Think I prefer tracking all this from a purely TA-centric perspective.
There was a lot of opportunity for shorts at 40k a day ago, then we got another opportunity for it today. After so much buying, there will always follow selling.
Right now we are significantly over bought, what are the odds of a 7th and 8th green candle daily? Historically how often do we have major sell off after this much green?
MY PREDICTION = I'm feeling high volatility ranging between 35k and 40k. My bearish hackles are up. I feel a bit more confidence on 40k shorts than I do a 36k long... I dunno. I got no real prediction for yahs today!
Shoutout to todays trading view ideas =RocketBomb - reminding me of that descending channel!
=== TimeStamps ===
0:00 = Welcome
0:30 = BTC 1 day
1:25 = BTC 4 hour
2:00 = FUD and FOMO news
4:10 = Not new channel
7:40 = Moving averages
8:50 = Tentative trend line
12:30 = BTC 1 weekly
13:00 = Cryptopanic FUD n FOMO
16:40 = BTC 1 monthly
17:55 = NO PREDICTION!
19:00 = Even more green coming?
19:30 = Closing words
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.