As a person who sometimes plays the bear game. This is a trap

I know it looks tempting BTC at a major support; 50 daily MA. With previous support the 21 Daily EMA now as possible resistance. But don't!

This is the exact same setup we had in July. The Daily RSI going below 50 and the 50 looking like it will break. A classic 50/50 sell signal with a proof down to the Weekly 20 MA at $52,000.00

Easy money right?

Load up a 10x short?

No it's not it's a trap. I see your shorts open on ETH. I see the Put wall on BTC. It's a repeat of July. You are going to get liquidated and be used as rocket fuel for the King.

If you are going to do it at least cover with 50% of the base asset so that your ass is protected from the big green candles

submitted by /u/GodlordHerus
[link] [comments]

This post was originally published on this site