Huge bearish signal you cannot ignore!
#Bitocin weekly candle just had bearish signal, which is a significant shorting opportunity that we have been waiting for quiet a while.
lets short! the market!
Considering it is now bear market, not too many retails providing liquidities, So I see it might a trap especially for "pro traders".
Conclusion as below:
Price may still needs to go up until everyone, i mean every single one believes the bull is back.
One thing that worrying me right now is funding rates, shorts are stacking hard as #bitcoin coin price going up,
meanwhile on technical analysis its an obvis shorting opportunity —— text book fake out movement.
One thing that worrying me right now is funding rates, shorts are stacking hard as #bitcoin coin price going up,
meanwhile on technical analysis its an obvis shorting opportunity —— text book fake out movement.
#bitcoin also at a very critical point, break out 76000 res zone but also hit on higher time frame trend line, come back lower than 76000 will be called as a fake out , not looking good!
Bitcoin will very likely remain in a bear market, despite short-term countertrend rallies.
The hardest part of midterm years is just not believing in every single rally.
Had couple days of break, feeling good now.
So #Bitcoin is still going sideway around 70k but looks its getting ready for an at least short term pump.
65k and break out retest on 72k are the good ones to try for a Long trade.