Senor_G

BTC/USD Correct Imminent?

Senor_G Aktualisiert   
COINBASE:BTCUSD   Bitcoin
Overall, I am macro bullish, but bearish near-term as we've not had a significant correction since the bull trend resumed off of the summer's range lows.

Thesis for correction
  • Bearish Technicals: ascending narrowing wedge,'overbought' HTF RSI levels, and summer mid-range highs were never swept
  • Market Sentiment: Moon bois have returned. Perfect opportunity to trap late arriving bulls

I am currently long but am being cautious and preparing for a 15-30% correction within the near term. I'd prefer to revisit ~35K, ~$40K minimum, prior to challenging ATHs. The larger the trend continues without a strong corrective move, the larger the relative correction will be in the future.

This is of course my opinion and not financial advice. Do your owner research.
Trade wurde manuell geschlossen:
ascending narrowing wedge was invalidated as price action looks to be confined to an ascending channel.

Haftungsausschluss

Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.