🚨 Bitcoin Update 🚨
Bitcoin is in a precarious position right now. Minus the ridiculous fight between Elon Musk and Donald Trump yesterday, Bitcoin is currently maintaining its range and remains above the 50SMA. Overall, bulls are still in control on the macro.
💥 HOWEVER, Liquidation Delta is bearish and we're still in a descending trend. Until this trend breaks, we have to presume it will continue.
On top of all that, its a Friday and we're pumping. Historically BTC does poorly over the weekend when this happens. This feels like a trap to me.
Therefore, I'm leaning more towards shorting this weekend. Then flipping / hedging long if we maintain / break above key level resistances next week.🌀🌀
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