BTC Daily update - Be careful with longs

2022年8月11日

Yesterday on the news BTC did exactly opposite of what I predicted and rose 7%.
Right now most of the crowd is rooting for long, forgetting to analyze technical factors.

Four signals for short:
1. We completed Elliot Wave pattern
2. Bulls become weaker as buying volume drops. If we want to go further, we need to wait for strong buyer to appear.
3. We broke trendline as support. And even tho there no impulse yet, we should see movement soon
4. We are already at full ATR. BTC is unlikely to rise 2-3x it's ATR a couple days in a row. Correction is likely

Also, be careful as there an obvious pinbar behind which stoplosses of bears are hidden. Marketmaker may try to go for them first before the drop

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P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself

2022年8月11日

註釋

As I told you