Ok now is starting to look like bull flag on short-term time-frame, after failing
ascending triangle break-out. Still expecting a fake-out to higher levels above $21.5K but this ain't no shorting range.
if that's not a good price point to short what is?
this has been one hell of a pop, I fully expect a strong pull back, maybe even retesting 15.5k.
When it breaks down from the bull flag. Not within it, unless you're scalping resistance to support that is, as it's a bullish continuation pattern until proven otherwise.
If we go back down to $15.5K, you can expect much lower than that though.
either way if it breaks up sell because the move is way over extended, or if it breaks down short cuz its going down.
IMO most of this move is based on a short squeeze , and some mofo buying, but now the shorts are liquidated only mofo is left, and its going to be hard to mofo buy when it suddenly drops sub 20K. I guess it all depends on how much money is on the sidelines right now.
all we can do is draw lines, watch price, and speculate