BTCUSD Longs Acceding Triangle adds rocket fuel to long squeeze
Please see the linked post to why this situation is so bearish.
But looking at the longs we see a perfect acceding triangle on the BTCUSD Bitfinex longs under a set of circumstances that don't really justify it. We have slipped quite the way down and things are looking like a move to the 200w is very likely. Price has been falling and the moving average situation has been deteriorating and so one of the simplest an powerful systems for trading is screaming at people to go short.
I am not a certified market tech. But you don't have to be to think there is a fair chance we bounce on the 200 and bouce between there and the 20w or 50w. There is a lot of money to be made or lost if you are reckless. Don't short recklessly.
But looking at the longs we see a perfect acceding triangle on the BTCUSD Bitfinex longs under a set of circumstances that don't really justify it. We have slipped quite the way down and things are looking like a move to the 200w is very likely. Price has been falling and the moving average situation has been deteriorating and so one of the simplest an powerful systems for trading is screaming at people to go short.
I am not a certified market tech. But you don't have to be to think there is a fair chance we bounce on the 200 and bouce between there and the 20w or 50w. There is a lot of money to be made or lost if you are reckless. Don't short recklessly.
And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?
~Nathan Explosion
~Nathan Explosion
