#review

#BTC 

The last review of the cue ball was trading at 21200. The following assumption was made:

“Ideally, you need to warm up the crowd and then go into a rollback. That is, for example, raise it to 23500-24500, and before the February Fed meeting go into a correction. A pretty one, a scary one. To the area of ​​19600-20100, for example. And then 19300. Punish longs with shoulders"

What did we see? Grandfather reached $23,371.80 on Binance, just short of reaching the previously designated block. We already have a bearish divergence forming (we previously studied this topic in the TG channel)

As we know, a divergence is a signal for an upcoming trend change (local or global). It can stretch out, however, you need to be more careful when working from a long position, at a minimum, and at a maximum, take a closer look at the short side (who knows how to short)

There are two options:

1) Correction from current ones

2) Going into correction through short squeeze

What should those who want to ride on the downward movement do?

- Or aggressively - short from the current ones with a stop behind the lock and a minimum target of the block 20600-21400, a maximum target of the block 18400-19100

- Or conservatively, if you try to “pull an owl on the globe” and decompose the local upward trend into a five-wave model - look for shorts from the block 24500-25250 with approximately the same goals

- Or combined - partial entry according to the first option, addition according to the second

I repeat - this setup is purely for those who want to try to take a possible correction

I’ll make a reservation right away - I consider the probability of a move below 19000 as negligible, which can only be provoked by force majeure trash news, at this stage I consider a likely correction to the 20600-21400 block with a lower probability of a squeeze under 20K

All this can be timed/pull up for the upcoming announcement of the Fed rate in early February

In general, I personally view the correction as an opportunity to enter, and not a reason to exit, because if you don’t have the skills to short, it’s better to wait for the correction and enter positions, since the priority is still to move to the repeatedly designated block 28000- 30000.

Yes, the diver can be “smeared” by the timing in the side, so correction, although a priority, is not necessary, keep this in mind when forming a strategy.

When we reach block 28000-30000, we will have a fork there.

As I have said more than once before, we will locally analyze the input data that was relevant at that time, geopolitics, sentiment, etc.

Either we recognize the entire movement from 15500 to 28000-30000 as just a correction of the bearish trend and are heading for a turning point, or it was a reversal movement and the next targets will be higher

Yes, we can state some points only after the fact if there are supporting arguments

To summarize - at this stage nothing has changed, my personal priority is still the block 28000-30000, not without corrections, of course (marking https://www.tradingview.com/x/9oxNfzAO/)

Peace, profit and green PnL to everyone