BITCOIN - THE UNSEEN ROCKET - WHAT TO EXPECT? - CryptoManiac101
BTC / USD TA
Here we are presented with another bullish scenario which does include possible bear trap / bull shakeout.
When would we expect this possible shakeout?
Within next few weeks due to heightened volatility within the traditional global stock markets which have recently seen some correlation towards crypto.
To play it safe it would be wise to not trade crypto during this time period, just hold regular bags or trade but accept that extra heightened risk.
QUICK SUMMARY - overall pattern is a bullish pennant, which usually breaks upwards, nevertheless to account for the risk and looking at some prior fractals, flash dump is highly likely in this area as longs are getting somewhat high on exchanges and a proper shake might be in order. I would not however put any short positions until we see firm break through patterns trend line at which it is currently sitting at. That trend line is located around $9,950 / $10,000 depending on which exchange you're looking at and will be valid for next weeks.
If you have any additional questions, let me know!
This is not a financial advise but solely my view, summary of the markets. Do not invest what you aren't able to afford to lose.
Here we are presented with another bullish scenario which does include possible bear trap / bull shakeout.
When would we expect this possible shakeout?
Within next few weeks due to heightened volatility within the traditional global stock markets which have recently seen some correlation towards crypto.
To play it safe it would be wise to not trade crypto during this time period, just hold regular bags or trade but accept that extra heightened risk.
QUICK SUMMARY - overall pattern is a bullish pennant, which usually breaks upwards, nevertheless to account for the risk and looking at some prior fractals, flash dump is highly likely in this area as longs are getting somewhat high on exchanges and a proper shake might be in order. I would not however put any short positions until we see firm break through patterns trend line at which it is currently sitting at. That trend line is located around $9,950 / $10,000 depending on which exchange you're looking at and will be valid for next weeks.
If you have any additional questions, let me know!
This is not a financial advise but solely my view, summary of the markets. Do not invest what you aren't able to afford to lose.
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