the catalyst for this going further down would be traders trying to influence upside. they'll more than likely get a reaction from bears, this downside has been shallow so far $btc past 10m, big bidder
defensive and cautious positioning right now is the only way to play this market. stay safe brothers and never forget to take some profits and pay yourselves! let me reiterate pay yourselves!!!!!! you worked for it and fkn earned it so do that
each impulse up growing weaker, something to take note of LTF. wouldn't hurt for me to reduce inventory + hedge here $eth people are euphoric, and that's okay for a little while. but no, doesn't last.
participants are getting worked up/stressed, it's easy to tell. this PA is giving no real relief in either direction, just trap chop it's honestly impressive, great for mming $eth $sol $xrp $ada
it's pa like this that tends to get me. bearish here just for v shape. bearish after confirmation and it's likely over crowded, also reverses on you. bearish long after confirmation = too late no way to play the bear side. so i guess we're bullish mming $eth $sol again
i don't think we're getting relief on this downside- i think we actually establish a range lower $eth volume increasing like that once we engulf, someone with money is positioned poorly and someone w money is targeting them