my thoughts on a Bitcoin short position vs my bullish scenario

By Emad | honarparvar | 6 Jul 2022


I'll keep it simple: I like bull runs, but we need solid evidences and reasons to jump in; yet I can't see those evidences, there are some which I discuss here as my B scenario, but first my bearish point of view:

ee498ac7df8df8b6545c1ed61d210de66705e1823f2d65baef9c704dd099b9a2.jpg

the daily chart of Bitcoin BTC/USD in Kraken market.
a hidden bearish divergence pushed the price to the lowest levels this year, a second attempt to the bottom of the support zone.

Bullish scenario for BTC:

cc668cc5bbe0675c9f9f1eb1e25dfbca8efce365fd3aebfe7b4e057082bc62ec.jpg

 

the bullish divergence in the composite indicator and price, not yet confirmed and needs a candle confirmation, indicator confirmation or my favorite method: trend confirmation. so I will wait till the purple downtrend line breaks, then 37k is my target upward.

and what if both scenarios happen?! :) first I enjoy the short and still have the opportunity to take the bull ride... money rains mates!

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Emad
Emad

youtuber, business developer and Crypto enthusiast


honarparvar
honarparvar

Writing is my addiction!

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