Shorting Bitcoin? Probability Says It's A Bad Idea.
Bitcoin showing candle (outside bar) which can be interpreted as a MOMENTUM reversal (not to be confused with a TREND reversal). The broader structure is still which means probability continues to favor longs. This does NOT mean we can just buy at any price. The objective is to ANTICIPATE the next inflection point or where PROBABILITY FAVORS buying activity. That level is the 10,500 AREA. In order for us to share a new swing trade LONG idea, price not only needs to test this area, but also produce a setup that fits within our rules.
If you find yourself caught short from the low or long from near the high, then you are most likely reacting to information. That is the key signature of the herd mentality which is part of human nature. Anyone can learn to read a chart and place orders, but most people aren’t even aware that the real obstacle that stands in the way of consistent performance is their own natural thought process. This is a game of understanding your own behavior relative to the herd, and it is NOT intuitive.