good evening,
looks like the attempt at the short squeeze has failed, and it was almost expected.
---
>btc broke down below a key algorithmic weekly channel.
>playing out a sequence of bearish impulses to the downside.
few key levels to keep an eye on:
24~25k (monthly 55ema)
24k = -0.236 of wave 5 of the impulse going down.
23k = 100% extension of the larger move down from 68k
21k = michael saylor gets a margin call
19k = 123.60% extension of the larger move
14.6k = 1.618% extension, aka expansion target.
where it stops is beyond me, but i can theorize \ try at ever level with a very tight stop.
ps. there is a full moon on 5\15, a historical indication of a local bottom \ bullish reversal.
ps.2. despite the 60% decline since november, people still seem to be bullish (myself included lol), which makes me think there's more pain to come. when despair sets in, the bottom will be near.
✌
looks like the attempt at the short squeeze has failed, and it was almost expected.
---
>btc broke down below a key algorithmic weekly channel.
>playing out a sequence of bearish impulses to the downside.
few key levels to keep an eye on:
24~25k (monthly 55ema)
24k = -0.236 of wave 5 of the impulse going down.
23k = 100% extension of the larger move down from 68k
21k = michael saylor gets a margin call
19k = 123.60% extension of the larger move
14.6k = 1.618% extension, aka expansion target.
where it stops is beyond me, but i can theorize \ try at ever level with a very tight stop.
ps. there is a full moon on 5\15, a historical indication of a local bottom \ bullish reversal.
ps.2. despite the 60% decline since november, people still seem to be bullish (myself included lol), which makes me think there's more pain to come. when despair sets in, the bottom will be near.
✌
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.