*** Pros: High confluence on 4 indicators.
- Bearish divergence to be confirmed.
- The 50% fibo are well defended and we can't close above it.
- Bullish channel with more probabilities to break out below, then to confirm the Bear Flag.
- The pattern "Multiples Long Wick Candles rejection": Multiple Daily candles with long wicks and a small body at the bottom, so buyers lose Momentum and cannot push the price higher, possible rejection down!
*** Cons: Possible a close above 25K with a return of volumes, an S&P 500 which will be bullish again next month after the positive news announced by the fed (we're not in a recession), and a lower DXY Dollar index for more liquidity on the S&P 500, and BTC.
https://www.tradingview.com/x/lRaWLz1C/
The shorts are beginning to accumulate their liquidations to the north.
On social networks it only speaks about recession, inflation on the rise, the increase in interest rates, the Dollar in a bull run, it tells us only one direction which is the down trend, but the market makers will they go too?
If the shorts will rise via the peaks of liquidations in the north and will not believe the last rise of price, then it is possible a Buy to Sell, first squeeze the Shorts higher, but it is also possible that we will go First liquidate the Longs down before the Shorts, given the huge spikes in liquidity to the south, we are on a key price level before a strong move, in my opinion to the south at 60% and to the north at 40%!!!
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