Don’t try and time the top in a trending market

21 Nis 2021

For those trying to short and time the top of BTC, BTC is still clearly in an up trending market and trying to go short is simply a bad idea. Just because we had a rising wedge “breakout” it doesn’t mean we’re going straight down and dumping. These patterns work better in downtrendinf markets. But what matters more is that we are being supported by HH HLs and on a major area of support + the 50EMA on the daily timeframe. What a terrible idea to try and short on this major area of support. Not only that but we had a double bottom on the 4hr to confirm our daily support entry. Don’t listen to traders out there that are trying to time the top of this market because they most likely have gotten wrecked many times in the past. The time go short is when we see we are in a clear downtrending market but now isn’t the time.