Mean reversion potential 9200 target. But let's zoom out a little. ? Pretend like Bitcoin is surfing playing ride the ocean wave. It does a good job at staying above water. The thing is when it falls under the waves for too long it depends on how fast it can get back to the surface before it get lulled into the abyss. Bitcoin is racing against time here with what you see in the chart above, it's already spending too much time below water. A speedy recovery is needed or we may be in for another trip to the abyss. Lucky for Bitcoin is it's only just starting and has alot of big blue waves to ride in the future to heights we never thought possible. I wanted to post a bullish bias idea on bitcoin here even tho short term could be bearish, doesn't have to be tho, anything can happen. I am overall of course bullish on Bitcoin. I believe in its tech and that it's in its infancy in its journey in making our way of life better and more efficient. In my analysis where I say short now or sell sell sell also means hedge now not really selling to fiat, for example. Not actually LEAVING Bitcoin only shorting it against itself, sometimes with profits resulting, not really always seeking that, but grabbing what falls off the side. Profit realised in BTC not usd. What if you make $500,000 worth of Bitcoin on a Craig short trade, but held that same Bitcoin just a little while longer and the price has at least recovered or potentially dramatically increased in value, then what is your overall portfolios ROE? See my linked idea "sell sell sell" to see an idea of potentially where we are and how much further down we potentially need to go to reach a golden fibonacci zone with best risk reward to place longs.
