Here’s my current plan based on Bitcoin’s daily timeframe

📉 BEARISH CASE:

1. Triple divergence on the daily chart

2. A touch of the upper boundary of the ascending channel

3. A retest of support

4. A lot of longs have piled up on the liquidation map

📈 BULLISH CASE:

1. Trendline breakout

2. A double bottom formation — with a target around $85k+

3. On the daily liquidation map, we could still move down to $80,900

MY POSITION:

As I wrote before, I’m holding a global short position and averaging into it. At the moment, I don’t see any bullish signals. Yes, I was a bit early in building the short, but nothing serious has happened yet. The monthly candle did close bullish, and that’s why I revised how far #BTC could still run, but that doesn’t mean my stance on BTC has changed. My position is SHORT.

What do you think about Bitcoin?

TURN ON NOTIFS, FOLLOW & BOOKMARK!

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