BITCOIN to the moon? NOT YET!
Updated
It's been a few happy bull days( or weeks) for Bitcoin-Maxies.
Bitcoin touched 26K for the first time since the last crash in mid-2022.
This great milestone refilled gas for tons of headlines flooded into my newsfeeds.
" Bitcoin reached its new high in 2023".
" It's time to the moon, baby".
" Last chance to fill your bag before it's too late"
etc
Great to hear, but ...
... HOW LONG WILL IT LAST?
( According to my personal TA), the party is already over.
It's complicated why I claim so, but look at the biggest signal on 1D BTC Chart.
There is a HUGE shadow pin to a strong resistant( yellow line).
The volume continuously spike, reached its peak, and bounce back when Bitcoin touch the 26K history milestone.
Familiar?
If you're new to the market, it's the signature of Smart Money's Search for Liquidity Pool.
Bitcoin has the biggest liquidity pool of the year at 25K, and lots of stop-loss was triggered when the condition reached.
Plus, a new " all-time-2023-high" put hype on the retail investors,fueled Institutions's Short position.
Find what stop loss hunting at: investopedia.com/terms/s/stophunting.asp
Now you know you have a choice. Which side will you be on?
🤔🤔🤔
Other than TA, there is no incentive for Bitcoin to have a Rally right this March.
Terrible macro, CPI keeps decreasing, too early since the bottom( which means there will be a lot of resistance when moving above), and not enough interest in Crypto since there're a lot of regulation nuisances ahead.
The whole Economy's Health just isn't on Bitcoin'side( or anything's side).
😞😞😞
But ON THE OTHER SIDE, there's a " black swan" we should care about.
It's the collapse of some banks and the loss of trust from people in the traditional banking system.
People might seek for another safer place to keep their money...
... and who knows if it isn't the mighty Digital Gold?
( Anyway, it's just a tiny chance, less than 5% in my opinion)
Conclusion: NOT MOON TIME YET!
On guard and Be wary, my mates!
Bitcoin touched 26K for the first time since the last crash in mid-2022.
This great milestone refilled gas for tons of headlines flooded into my newsfeeds.
" Bitcoin reached its new high in 2023".
" It's time to the moon, baby".
" Last chance to fill your bag before it's too late"
etc
Great to hear, but ...
... HOW LONG WILL IT LAST?
( According to my personal TA), the party is already over.
It's complicated why I claim so, but look at the biggest signal on 1D BTC Chart.
There is a HUGE shadow pin to a strong resistant( yellow line).
The volume continuously spike, reached its peak, and bounce back when Bitcoin touch the 26K history milestone.
Familiar?
If you're new to the market, it's the signature of Smart Money's Search for Liquidity Pool.
Bitcoin has the biggest liquidity pool of the year at 25K, and lots of stop-loss was triggered when the condition reached.
Plus, a new " all-time-2023-high" put hype on the retail investors,fueled Institutions's Short position.
Find what stop loss hunting at: investopedia.com/terms/s/stophunting.asp
Now you know you have a choice. Which side will you be on?
🤔🤔🤔
Other than TA, there is no incentive for Bitcoin to have a Rally right this March.
Terrible macro, CPI keeps decreasing, too early since the bottom( which means there will be a lot of resistance when moving above), and not enough interest in Crypto since there're a lot of regulation nuisances ahead.
The whole Economy's Health just isn't on Bitcoin'side( or anything's side).
😞😞😞
But ON THE OTHER SIDE, there's a " black swan" we should care about.
It's the collapse of some banks and the loss of trust from people in the traditional banking system.
People might seek for another safer place to keep their money...
... and who knows if it isn't the mighty Digital Gold?
( Anyway, it's just a tiny chance, less than 5% in my opinion)
Conclusion: NOT MOON TIME YET!
On guard and Be wary, my mates!
Trade active
We will take a small Short position here.Entry: 24.200-24.500
SL: 26.300
TP: 17.500- 16.500 or even lower.
It's not financial advice.
Trade at your own risk!
Happy trading
Trade closed: stop reached
seem like the party isn't over yet :)It's may drop later, but for now, we should wait for more signals to observe the market
Be cold, and keep your head cool!
Trade active
BTC has reached it previous session PoC. I retake the Short here at around 30K
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