Do not short the bitcoin rally, yet

Bitcoin will keep rallying 1 month or weeks or days before the halving. Do not short or sell before the halving yet.There is a very high-probability that you will get stopped out again and again. Short-stops will be hunted down for liquidity. Professional traders place their limit-sell orders where majority of the retail traders place their stops. You know….Bigboys are grabbing liquidity for major price pumps or dumps. To learn more about liquidity-grabs. Before dumps, price is often pumped, the purpose of this move is to stop-out retail shorters and fill the orders of bigger players. The professionals place their limit-sell-buy where retail place their stops.


I am eyeing $12500 for a rejection then further consolidation within the triangle. It’s actually a pennant if you zoom out. If price consolidates within the triangle, expect a massive green dildo of epic proportions if it breaks out. This is a week-chart. Consolidation within the triangle can take quite a few months.

Halving will put pressure on smaller miners, same cost to mine half the rewards. If the price of bitcoin fails to keep up with cost of production, lots of smaller miners will go bankrupt and end up dumping the bitcoins on the market. If the market can’t absorb the hits, price will tank. Read more about miner capitulation here.

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