Avoiding shorts by far

Morning everybody, and Happy New Year,

Last time we've discussed some fundamental issues that makes us to focus on higher target where the most reasonable by far our 35K and Bloomberg's 50K ones, but at the same time to not surprise if we get something greater in a longer-term. Because those who directly invests in BTC now, I mean Hedge and Pension funds, they forecast higher targets. Now we have only one driving factor on BTC - not the hash rate, not the mining or other crypto specific indicator but - only "how much big whales would like to invest in BTC". 1% of their assets - be prepared to double of the price, 2% - 4 times... etc.

So, with this new reality and rapidly changing fundamentals of the market, we do not dare to sell the BTC because no signs of momentum exhausting stands on the market. In short-term trading, i.e. daily/intraday charts we're aimed on long entry, but intend to use bearish signals and patterns as indicators of retracement and target calculation.

For instance - take a look at 4H chart. Here we do know that 24700 is strong daily K-support and daily oversold. Thus, if H&S starts to form here we just use it for target estimation and as indicator of retracement. It shows that H&S target stands accurately around daily support. It makes 24700 area interesting to consider long entry.