Short Bitcoin. Intermediate golden pocket top is in IMO.
I think that the top is likely in for this half of the bull run, and if it isn't, there won't be much more upside trajectory before an intermediate reversal.
Just as we did in 2015/2016 and 2019/2020 - we are getting rejected from the macro .618/.65 fib golden pocket.
The question here is if we get a retracement that mimics 2015/2016, or do we do something more like 2019/2020.
2015/2016 Scenario - we only make it down to the 50 fib retracement of this upward move from the current bottom around 15k. That would be around 33K. So I recommend taking heavy profits around 33K.
2019/2020 scenario: We get a double bottom. So you could potentially take profits all the way down close to 15k.
We will probably get a FED Pivot in March, so it will be interesting to see how the market reacts. In 2019/2020 we had a rally when the FED pivoted, followed by the finishing of the crash into the COVID crash.
Of course use a stop loss if you choose to trade the markets!
Just as we did in 2015/2016 and 2019/2020 - we are getting rejected from the macro .618/.65 fib golden pocket.
The question here is if we get a retracement that mimics 2015/2016, or do we do something more like 2019/2020.
2015/2016 Scenario - we only make it down to the 50 fib retracement of this upward move from the current bottom around 15k. That would be around 33K. So I recommend taking heavy profits around 33K.
2019/2020 scenario: We get a double bottom. So you could potentially take profits all the way down close to 15k.
We will probably get a FED Pivot in March, so it will be interesting to see how the market reacts. In 2019/2020 we had a rally when the FED pivoted, followed by the finishing of the crash into the COVID crash.
Of course use a stop loss if you choose to trade the markets!