We still have half a month, BTC could continue to move up and FOMO folks in, but if we close this month within 3-5k of our previous high, it could turn into a double top disaster in November.
Let me predicate this by telling you that I am still bullish in this market, until proven otherwise, but I like to look at unexpected possibilities. As previously mentioned with BTC, a double top here, with a FOMO run wick, would prove most bears and bulls wrong and allow a handful to collect from everyone on both ends - which is usually their goal.
So this idea - Short in November, depending on a monthly close that comes within range to call this a double top, and continued evidence that BTC.D is printing a double bottom here and about to skyrocket (I still think we see a new ATL, but a double bottom on BTC.D is also possible here).
Let me predicate this by telling you that I am still bullish in this market, until proven otherwise, but I like to look at unexpected possibilities. As previously mentioned with BTC, a double top here, with a FOMO run wick, would prove most bears and bulls wrong and allow a handful to collect from everyone on both ends - which is usually their goal.
So this idea - Short in November, depending on a monthly close that comes within range to call this a double top, and continued evidence that BTC.D is printing a double bottom here and about to skyrocket (I still think we see a new ATL, but a double bottom on BTC.D is also possible here).
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We broke below this structure and recently re-tested the bottom of it:
