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CrypNuevo 🔨

@CrypNuevo

$BTC update: Price pushed up to a new high and hit retail's short stop-losses🔨 Although price is overextended, I don't see momentum shifting just yet. I'm sidelined for now waiting for a trade: A) Signs of exhaustion: short For this I need to pay attention to the volume. I do really want to see one last big green candle with a lot of volume which would indicate that the MM is selling most of his position. And that's when red candles will follow to restore balance in the chart and correct to the 4H50EMA to fix the current price overextension. B) Sideways consolidation at 1H/4H EMAs: long to 1W50EMA "Acceptance above an area" comes from a solid retest/consolidation of said area. I don't want to long and that the case A happens straight after. So for that I need to see price stop pushing higher and simply HOLD here, wait for EMAs to catch up to price and then it can continue running up in a sustanaible way. If this happens, it could take days and form a trade for next week. Conclusion: Personally, mostly waiting for A) case to happen to trade again this week since it could happen today or tomorrow. Ideally it continues pushing straight higher without any exhaustion signs and it will overextend price even more so the short will be more atractive and worth it when we see those signs at higher prices. Case B) should take longer to form and it's interesting, but again, probably for Friday or next week. Not a trade for today or tomorrow like potentially case A) I'll keep you updated!