Forwarded from CryptoTrendy's channel
$BTC DAILY UPDATE:
- Daily bullish SFP
- 12HR RSI bull div formation
- Decreasing volume
I saw many people call that we were heading for new lower lows on crypto Twitter. We could indeed go lower but I believe that very few people bought that support at 6000 since every single support failed to offer a real bounce since our local top at 8500. And I really feel that some more people sold once we broke 6100, anticipating lower lows.
Being part of my trading system I happily opened a long position with my SL below swing low (~5920) giving me enough room in case a make another dip below 5971.
If it plays out, this is a hold for the next few days/weeks since I expect a massive short squeeze to occur. We just had a Long/Shorts flip
- Daily bullish SFP
- 12HR RSI bull div formation
- Decreasing volume
I saw many people call that we were heading for new lower lows on crypto Twitter. We could indeed go lower but I believe that very few people bought that support at 6000 since every single support failed to offer a real bounce since our local top at 8500. And I really feel that some more people sold once we broke 6100, anticipating lower lows.
Being part of my trading system I happily opened a long position with my SL below swing low (~5920) giving me enough room in case a make another dip below 5971.
If it plays out, this is a hold for the next few days/weeks since I expect a massive short squeeze to occur. We just had a Long/Shorts flip