Weekly Bitcoin plan: 19 Feb 2023

Always have a bull/bear plan. Here is mine for the next week and my personal the reasons for them.

Here is the bull and bear paths we could possible take over the next week. I am leaning bearish, but the bulls are hanging on and for now we have been accepted above $23500.

Why I am leaning bearish is the NASDAQ has broken trend to the downside. After all, we at resistance and for now market structure is in consolidation, but we are at resistance. So your best probabilities are to the down side

I am also building a short position in Tesla and will DCA into the position.

Here is a great indicator from thechartgall which is available on her youtube channel. It is more stock market orientated, but showing we leaning bearish. The bulls are fighting, but shorting at this point seems a better risk to reward ratio.

Conclusion

• I have opened a MATIC short at $1.52
• I will be adding to my ETH short at $1760
• My SOL short is currently still in profit, so gonna hang in there

It all just probabilities, but I longing at support and shorting at resistance works for me. Bitcoin is at the top of a long running channel, so probabilities favour a move down in the next few weeks.

IMO and NFA ;-)