• Mon. Oct 3rd, 2022

Saturday night shocker? Nah.

ByWikafever

Aug 3, 2022 ,

Cryptocurrency/Bitcoin Market Analysis 7/30

Not much to say tonight. We broke up, and are now testing some resistance. This move upwards doesn’t seem over, we broke a trendline but we also have volume fading away. Market shows that heavy shorts won the trades tonight — so all the warnings I normally have are likely still there. We will see what happens tomorrow, but short term tidings are not good.

we’re constantly making higher lows, and that is telling. Real move might be tonight based on volume. https://www.tradingview.com/x/Odaem4Lk/

This is a perfectly forecast short term rejection that happened. We moved up, bears came out pretty hard, and then took shorts and exited on the dip. For anyone doing the math, that’s a 4ish percent move in a couple hours. If they went nuts, that could be 4x account but depends on the person. That’s a short term play, though.

this was bears in control, explicitly. https://www.tradingview.com/x/YZBGzw0w/

So let’s look bigger, 4h charts. I think people are about to get played, hard. At least for BTC. This looks like a short play is in progress, and yet they could either (drop the shorts and fakeout) or they could win that rate. Time will tell. It’s not aggressive enough for retail to actually have a liquidation fest on this yet. It looks like retail is scared and shorting, and somehow won the bottom on the long. Time will tell.

I see a long play followed by a short play. That short play is umm, not exactly reassuring and does not look over. https://www.tradingview.com/x/KJ1oquqe/

New to trading? Try crypto trading bots or copy trading


Saturday night shocker? Nah. was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.