Many have been waiting for Bitcoin to grow for so long, and for several days now I have been hearing that it is necessary to sell, because “everything is going to collapse now.” However, the main reason for the growth is precisely that shorts are opened with limit orders, and many market orders are also placed, which are then taken out by stop. There was the same crowd that sold, and now they are fixing the loss. It is due to the stops of shorts that Bitcoin updates its peaks.
For many, the problem is that there is “emptiness” at the top – no levels to cling to, or even any kind of reference point. And this is really difficult, because everything can collapse at any moment – and this is true.
But it is better to wait until this happens, and only then look for points for a short, and not at every updated high level. While everything is growing, trying to trade against the market is stupid and inadequate.
At the time of this post, I personally don't see any reason to go short. Even if there are patterns to sell, it doesn't mean there is a combination of factors, but right now there isn't even a pattern. Those who are shorting now are mostly hoping for luck and maybe just want a "nice" deal. There is no judgment here - some people just like to say: "I caught the highest high and shorted from it."
But if for you it is precisely a system, precisely a strategy, then that is a problem))) You should not run headlong into a locomotive that will run you over and not even look back.
P.S. The funniest thing is to watch those who have been looking at such an indicator as “bitcoin dominance” all their lives. Finally, the market has shown that this is complete nonsense and does not work, since dominance either stands still or even falls, and bitcoin updates its peaks! It is not logical, but, as they say, even a stick shoots once a year.
Friends, like this post and generally throw in some reactions if you agree with the thoughts!
