I respect the TA a lot, but as I said earlier too.... TA is just a graphical representation of pshycological reaction of masses to an imposed situation.
So to get ahead of TA we should have a sound knowledge of masses pshycology too.
Take present situation of btc... Shorts r going parabolic & now they r getting tired of holding.. Nothing happening /no juice getting out of big shorts.. ..
Btc is just revolving in a range on smaller TF & not breaking the lows on higher TF like 6h or daily. ..
If pre assumptions goes right, MMs wants max. traders/retailers to close longs and go on shorts. Creating a liquidity pool /stops all along the upsides.
Let's see what's BTc has in it's kitty... Next 6-12hours will clear the trend.
Btc dominance perfectly at high resistance zone of 50-51%
it may be (most probably) the inflection point in dominance or we may start seeing retracement of dominance from here in next few days.
buying some in all of them and will make a crypto portfolio representing major alts.
look at the short long ratio...
first time many months...shorts supercedes longs
Red line is shorts and orange line is longs.just waiting for a short squeeze..cant say when..it may be tomarrow or next week...
Happy trading and investing!!!