Bitcoin 36k and we are going down?

2023年11月1日

ETF coming soon! Well well well. This is not so bullish to me and too many people are bullish right now.

Technically speaking, I see a triangle formation right now and this tells me that we're about to end a larger figure (wave C)

Sure we could see higher levels and many analysts start drawing a larger unfolding wave C but to be honest this is not what I'm seeing. This current move is a SWIFT MOVE and I'm also expecting an imminent reversal after that triangle plays out.

Furthermore, I'm NOT DAY TRADING BTC anymore BUT I still have an interest into spot trading. I put an alert at the 38.2% level for more than 6 months already.

Just take look at my last Tweet Analysis the 18th of March and you can see that I was pointing that level of confluence (36k).

If I converted pretty much all my BTC into USDT, I'm now ready to start SHORTING this market as I believe that the price should return between 25k to 20k in a near future.

I also could see 40k/42k or more next year with the BTC halving BUT I'm also staying open minded to a BEAR case as well as shown on the chart.