Cleaned out the longs. Now, it's time to clean out the shorts.
Traders,
You guys know my target during this uptrend has been 68k BTC which is the top of our channel and that large order block with mostly sell orders. This last sudden dip cleaned out quite a few longs. Now, it is time to go after those shorts. You will start to see a lot of shorts liquidated around 68k (the top of our channel). This will only add fuel to the bullish fire. I think we'll go right through that liquidity order block and clean out all remaining shorts. Supply is low on centralized exchanges so, expect big movement to come!
A couple of things to watch before we get there though.
First, we have to beat our 200 DMA. This is absolutely critical! If bulls can't handle this then it's game over for the time being and I think we'll drop all the way to 48k.
Secondly, we have to beat the top of our channel. That currently sits at around 68k.
If we beat those two major resistance points, it's game on. Shorts will be in serious trouble.
Stew
You guys know my target during this uptrend has been 68k BTC which is the top of our channel and that large order block with mostly sell orders. This last sudden dip cleaned out quite a few longs. Now, it is time to go after those shorts. You will start to see a lot of shorts liquidated around 68k (the top of our channel). This will only add fuel to the bullish fire. I think we'll go right through that liquidity order block and clean out all remaining shorts. Supply is low on centralized exchanges so, expect big movement to come!
A couple of things to watch before we get there though.
First, we have to beat our 200 DMA. This is absolutely critical! If bulls can't handle this then it's game over for the time being and I think we'll drop all the way to 48k.
Secondly, we have to beat the top of our channel. That currently sits at around 68k.
If we beat those two major resistance points, it's game on. Shorts will be in serious trouble.
Stew
Stewdamus Trades -
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Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
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stewdam.us
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