Yesterday I published a short term Bearish outlook on BTC.
Lets see this from a bigger perspective, if BTC goes short term bearish.
If you haven't read the previous article, I'd suggest, go ahead, and give a read, and let me know in comments what you think :D
Here is one potential bullish case scenario I'll be looking at, once (or if) BTC drops and completes this Inverse Head and Shoulders Pattern on the larger timeframe.
While the mainstream media spreads fud once BTC starts going down, while entire CT starts screaming for $500, $1000, and all, I'll be taking risk to buy in this zone (Marked with a "?" on chart).
Of course, ideally, if you are a trader, it is safer to buy the breakout, (above $10k) but breakouts in cryptos are very fast,we can see violent moves of 10-15% in minutes, so only "fast traders" and Algo Trading bots are able to catch the breakouts, so I think from a longer perspective, it will be relatively safe if you are able to manage your risk properly and enter with a managed risk.
I wont bet fully on this, especially because there's no confirmation yet, and unlike other traders. I wont even say "See I told you" (lol)
But here's what I am looking at, (Again remember: It may or may not happen.)
Here's my 1D BTC/USDT chart.
From investor sentiments point of view, I believe everyone will be screaming $500-1000 once BTC drops a bit, (some may even scream Zero)
But I would recommend to not listen to them, and instead take our own decisions!
link to chart: https://www.tradingview.com/x/k5kf5HW3/
Upvote and share if you like this Idea.
P.S. I'll give a small reminder and give an update to you all if this is true :P
Meanwhile, lets sit back for a while, and see what happens! :D
I'll be posting about a "moon theory" soon, about another potential long term play which may happen.
It will cover both Bitcoin and Altcoins, which should be interesting so, stay tuned!
Fine me on Twitter: https://www.twitter.com/beehivetrader :D