I am looking for a SHORT position on BTC. 100K can wait for now.
Dear colleagues, greetings to everyone!
Bitcoin has pleased us with active growth. I dare to assume that this may be the last strong movement of BTC in this cycle. Note that before such strong growth, we had a very long sideways movement (highlighted on the chart is a parallel channel*). I consider this movement as a large distribution zone.
The news background is currently working well to distribute the asset to the masses.
*Note the price reversal when the asset dropped to around ~$15,500, we had an accumulation zone, then negative news about the FTX exchange helped to liquidate all the long positions.
Right now, I am observing and waiting for the formation of an order block on (H4/D1) to open a SHORT position.
I have highlighted 2 key targets where I will fix my position if given the opportunity.)