CRYPTO MECHANIC
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$BTC Monthly chart
Candle closed with a pin bar taking out the liquidity above $100k and liquidated all the excited bulls.
This candle will make many traders bearish as they see it as "Doji" or shooting star. If i keep it simple they see it as a Bearish signal.
Structurally there is nothing changed on Bitcoin the chart looks absolutely fine. One candle isn't enough to decide the future direction but it's enough to trap people who focus on candle sticks.
Like i said after this candle many traders will flip bearish and will start calling for lower prices.
I want to see it dips below last monthly low to make people believe that it's about to dump hard.
They will start selling their bags and short it.
This will setup a good trap for bears calling for much lower prices
Candle closed with a pin bar taking out the liquidity above $100k and liquidated all the excited bulls.
This candle will make many traders bearish as they see it as "Doji" or shooting star. If i keep it simple they see it as a Bearish signal.
Structurally there is nothing changed on Bitcoin the chart looks absolutely fine. One candle isn't enough to decide the future direction but it's enough to trap people who focus on candle sticks.
Like i said after this candle many traders will flip bearish and will start calling for lower prices.
I want to see it dips below last monthly low to make people believe that it's about to dump hard.
They will start selling their bags and short it.
This will setup a good trap for bears calling for much lower prices
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