Stoic-Trader

BTC - The bearish case

BINANCE:BTCUSDT   Bitcoin / TetherUS
Yes, Bitcoin and all cryptos have been pumping in January. Influencers have gone wild calling bottoms, with next stop at 100k.

Even though I´m also net long on crypto, and am happy with my gains in this rally, there is an argument for a bearish scenario, in which Bitcoin would be making a flat correction, and this pump would be black wave C shown on the chart.

I´ve also separated the zones for the Expanded and Running flats.

My objective here is to give no an alternative scenario from all the hype that has been going on, specially when people talk in absolutes (as if the KNEW what will happen next). Since I trade on smaller timeframes, I´ll continue taking long trades until I see a reversal... I don´t really care about the hype, just trade what the chart is showing me.

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