$BITCOIN | Waiting for Confirmations
I prefer staying outside of the BTC trading at least for the weekends, because level and pattern trading doesn't work properly on local TFs. If the price stays higher than the $9100 lvl, that would mean we could consider market movements as consolidation for growth.
I would have appreciated the transition to the bullish phase, but TA tells me of the lower high and the lowers lows, which is the definition of a downtrend. The more probable scenario is a down movement aimed at the levels of $8600 - $8700, the closure of the GAP on the CME Bitcoin Futures followed by an exit upwards.
The impulse to $10500 cannot be viewed as a short squeeze. Have you seen the amount of shorts prior to the pump? Honestly, there is nothing to discuss. It would be better to stay without a position to avoid risks, because the only opportunities in supply on the market are with significant risk.
I would have appreciated the transition to the bullish phase, but TA tells me of the lower high and the lowers lows, which is the definition of a downtrend. The more probable scenario is a down movement aimed at the levels of $8600 - $8700, the closure of the GAP on the CME Bitcoin Futures followed by an exit upwards.
The impulse to $10500 cannot be viewed as a short squeeze. Have you seen the amount of shorts prior to the pump? Honestly, there is nothing to discuss. It would be better to stay without a position to avoid risks, because the only opportunities in supply on the market are with significant risk.
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