BTCUSD - Short - Correction underway - Edge 2 Edge trade

If BTC closes below the 6k mark, we have officially entered E2E trade territory. I would expect BTC to move with high volatility to the FAMA moving average (Green edge) of ~4800 price range. If we start moving towards the target price, I'm expecting the bull in BTC to use the 5K price as a nice round psychological number for support.

A great coin for leverage against bitcoin is bitcoin cash. I would recommend this option vs a leverage short position on BTC for MM reasons.

註釋

I'm remaining bearish until we get a daily close outside of the MAMA.

註釋

Watching this level of resistance:

註釋

4HR Cloud view. Price has retraced to the Kijun or 50% fib. The Kumo twist indicates the bounce off the fib could be to the downside.

註釋

I'm still bearish for two reasons:

1) Very rarely do I see a daily bar with no wick on either side.
2) Price has not closed above 4HR MA cloud / Kijun/ 50% fib.

註釋

Staying bearish for the same two reasons above.

Cloud view:

Adaptive MA view:

註釋

BTC is a very strong bull and normally I would be shifting my sentiment about now, but due to reason # 1 listed above (statistically over 90% true) and Ehlers MA study still showing a potential move to the downside on the 4H chart, I will remain bearish.

Current price chart:

註釋

4H adaptive MA has crossed over giving bullish sentiment. Momentum is slowing down after the recent bull run indicating a small correction could be underway before price moves to new highs.

If a correction happens I will wait for price to form a HA doji candle around the MAMA support of ~6800 area before looking to enter long.