I've been confused about Bitcoin for the last few weeks. I think this may be the start of a new macro range.
For now I can see a move to 37s. It's a buy for short-term. But we need to see the range for the long-term.
IMO Bitcoin ranging below 45k isn't a good look for the macro chart.
For now I can see a move to 37s. It's a buy for short-term. But we need to see the range for the long-term.
IMO Bitcoin ranging below 45k isn't a good look for the macro chart.
Trade active:
I got a short just now. ~43.1k entry / 43.6k stop.
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I like to see everything as channels. So I think this is still a valid pattern.
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Here is a different view.
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Remember how Bitcoin started to range before FTX news. Fake breakdown with FTX news then this run from 15k. Just saying.
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You can say this is a breakout+retest. In my view it's just a lower high. I hold the short.
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My entries have a habit of being sticky :D Let's see.
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It was a equal high on CME 4h. Apparently CME is more bullish right now. Interesting.
Trade closed: stop reached:
I won't force this position. If BTC is refusing to make a real correction here, it makes me think that this is a slow exhaustion phase. Go up very slowly. End with volatility. That'd be a macro top.