Ben Walther(@ben__crypto23)'s insights

Bitcoin Update — Stay Cautious 🚨 Bitcoin has been rejected

Ben Walther · 2024-09-19T23:01:53.000Z

Bitcoin Update — Stay Cautious 🚨 Bitcoin has been rejected at the upper trendline of the rising channel, which is a warning sign for potential short-term weakness. More importantly, open interest rates have quickly shot up to levels far from healthy following yesterday’s rate decision. High open interest, combined with this technical rejection, set the stage for a possible quick sell-off. The market could quickly reverse, leading to a short-term correction. This is precisely the moment to step back and avoid getting caught in longs! Definitely not the time to chase longs after these recent pumps.

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Ben Walther

4H candle looks strong but short-term correction wouldn't surprise me. Prolly the best idea to move your stop loss into profit zone. Should enough room?

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