Short Sell BTCUSD pair at 5k retreat
BTC is retesting the 5000 USD level. Crypto Market caps have been in a steady rise. The Altcoin market has been in steady decline. Historically BTC approaches a milestone such as 5000 and retreats and then retests to retreat again. This market situation looks very similar to past tests at 3000 and 1000. I expect a retreat to sub 4000 and followed by consolidation, a slight Altcoin market recovery, and finally a run up past 6000 in 2-4 months.
I am having trouble even obtaining the charts to fully represent each of these indicators within trading view, never mind charting them together. Rather than spend more time trying to fully utilize trading view I thought the explanation would be sufficient for now.
Sell short now. Place a stop loss buy order just above the 5000 sell wall. Target a 4213 buy order for profit taking. Target based on historical retreat levels from past BTCUSD retreats. 4213 appears to be at the 80% percent level of the past two retreats and a relatively safe expectation.
I am having trouble even obtaining the charts to fully represent each of these indicators within trading view, never mind charting them together. Rather than spend more time trying to fully utilize trading view I thought the explanation would be sufficient for now.
Sell short now. Place a stop loss buy order just above the 5000 sell wall. Target a 4213 buy order for profit taking. Target based on historical retreat levels from past BTCUSD retreats. 4213 appears to be at the 80% percent level of the past two retreats and a relatively safe expectation.
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