I repeat this regularly: nothing has changed on the economic front in terms of technical levels or structure. It looks like interest rates are poised to continue rising and the dollar seems to have low support inside one upside On larger time frames. As long as this trend remains the same, (plural Bitcoin or Standard & Poor’s It has very limited potential. Markets are irrational, especially bear market rallies. to buy one resistance level After a bear market rally is a low probability behavior.
Resistance levels tend to get stuck in a bear market. notice Bitcoin Now: There is an active sell signal from 20,250, followed by another potentially developing sell signal (current candle), in one place (failed high). resistance range ) where sales activity is likely to occur. The area of 18500 (support) was less than ideal for looking for shorts 21 K It is the perfect place in terms of probability and reward/risk. If the lower top is established, the lower bottom (price structure concept) is likely to follow.
Keep in mind that it is important to consider the argument from both sides. As the market provides new information, it is possible that the current alcohol market An argument you may lose advantage . That’s why it’s important to be open-minded, but to evaluate information objectively and not emotionally. if Bitcoin It can scan 22K, and create a clear higher bottom, then 25 kg Resistance becomes a reasonable expectation. If nothing changes in terms of prices and dollars, it is important to note that on an even more dramatic level rising Moving, its durability is low. At some point the economy will change and start to benefit rising Results, but until the evidence is clear, it is best to align with the intent of the market. Bitcoin It does not carry the same weight as the bond market, it is subordinate.
I recently shared a short signal of 18,850 that has been discontinued. I have since shared a new short signal based on the 20250 break. The first signal was strong due to the less than ideal position. The second signal is the higher probability or the most ideal location for such a situation. There is no way to know if this trading idea will ever pass (I don’t miss Bitcoin , but I share the signs). Depends on the probability of the most favorable location compared to the location Support level . This is also affected by Standard & Poor’s and Nasdaq. If these markets collapse, Bitcoin tend to do the same. Each of these markets also has significant resistance. Do they withdraw from here? Only the market can answer this question. The only question you can answer is: Are you willing to take the risk?
Thank you for considering my analysis and point of view. I hope you find it useful.