This is not a good time to short Bitcoin. The price seems ready to rally higher even if it is just a fake out. It would have the two pronged effect of liquidating aggressive bearish positions as well as printing a head and shoulders formation to pave the way for BTCUSD to decline down to $6k and much lower in the weeks and months ahead.
Bitcoin bears might want to exercise caution and wait for better entries before entering short positions. There is no denying that the bulls have lost control but the market makers and whales are likely to side with them one last time to give them a false sense of vindication before the actual move to the downside begins.
Comment your thoughts and suggestions down below. If you liked this analysis, please give it a thumbs up and follow for more. Good luck! :')
Bitcoin bears might want to exercise caution and wait for better entries before entering short positions. There is no denying that the bulls have lost control but the market makers and whales are likely to side with them one last time to give them a false sense of vindication before the actual move to the downside begins.
Comment your thoughts and suggestions down below. If you liked this analysis, please give it a thumbs up and follow for more. Good luck! :')
Comment:
Wait for reversal.
Comment:
Wait for trend reversal.