Is Bitcoin in real trouble?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Well, some sneered a few weeks ago when I pointed out the 1D trend switch, that created a probability of a 50% correction. It happened. There was a deafening silence thereafter.

As I say too often trend switches create probabilities which predict nothing.

In this chart I'm looking at the 3D time frame where price has moved up to touch the ATR line. This is usually a critical point. It doesn't mean that price is bound to reverse.

If you believe Bitcoin is going to $500,000 this is your opportunity to put your money where your mouth is.

If you believe price is likely to vacillate at this this level and travel further south then you short it - at your own risk of course.

If you are a sensible trader and you want to wait - avoiding FOMO - then do that.

The great thing about trading is that you can do whatever you want!

Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which has a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
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