7/27 - However, yesterday's stop loss hunt was that insane that the risk-reward for sellers and shorters multiplied. The increase in price was that big that multiple resistance levels were breached and became support, hence my correct call that the new range would start at 36.5kish and end at 40k. The most logical trade would be a short at 40k and a long at 36.5k. The short liquidation that destroyed tens of thousands of bears yesterday stopped new shorts and provided liquidity for the next leg up, which is bad news for bears who would need to risk a lot to break down the low of the range. Don't get me wrong, nothing is certain and we can still break down to like 33.5, but the risk is higher.
8/1- That was a great monthly close, technically discontinuing the downtrend that has been happening since May. I am still expecting a pullback to the mid 30k range, but the overall momentum shift upwards has been confirmed.
Based on your call to short at 40k people would have got crushed.
Then you called for a pull back on 8/1, which it was 40-42k. It rushed forward to 46k.
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He is kind of covering all bases on a lot of his "calls" that is true.
If maybe then possible....