We have completed the micro distribution at LPSY and now in mark down phase. Lots of long and short squeeze happening, so i wanted to provide a simple framework to trade this mark down.
Here's my take on the dip,
Following the downward stride we'll get the first bounce at 51.700 but it will be taken down after a short bounce (so take quick profit around 4-5%) and we go down below 48-49k!
That's the dip! Get ready for your Black Friday special discount!
If at any point this analysis gets invalidated, my stop buy order will kick in and buy the breakout!
Trade safe and use a stop loss (or stop buy as you can see in this post.)
i belive we are going down to 53 at least but 52-53 is a strong support we have the bottom of the daily channel also 100Ma and we have ichi cloud and also static support too its a strong support over all if the whales decide to break it and then move the price well it will cost them alot to sell actully i belive we get bullish from 52-53 or we will go down alot more maybe up to 40 at least but the unchain data already show the whales are buying alot especially those who have more than 100btc even if we hit 49 it must not be a close candle only shadow to liquid long possition before we back up again if we close below 52 well thing go ugly what do you think?
Chimpyy
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we are still in the uptrend channel and I believe before 49k there is a support level around 53k. How are you saying we are going to 49k? This uptrend started on 21st of july this is the first leg and the second leg is on 21st September, now it is probable for BTC to test the support level 2 months later IMO but the 5th wave is not done yet. and 53k touch would not cancel the elliot wave theory IMO.
benarni
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I have to admit that my recent bullish outlooks have been proven flat out wrong. But i don't see this going down to 49 k. Heavy whale buying already between 55 and 56 k, and a massive buy-wall of orders between 54 and 53 k.
jBTCkingaling
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I'm here for 40x*
zcj3srdkqh
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I will pump the market up, chill
FeederGastro
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Only if it drops under 555610 If it drops to 49k it means I'll buy at 40k. Well, I won't buy BTC itself obviously, but the alts at those levels