Hello subscribers and occasional guests!
I received a lot of messages asking “Why am I so bearish, do you really not consider any other options?”
And I answered that a bullish option exists and it will be used only when the bearish trendline is broken out, which Bitcoin can't break since spring 2018. Today this level is at $ 4400. After breaking out the price should be fixed above this line and only after that I am ready to consider long. But the probability is extremely small. I give it to happen 10-15%.
Why do I think the drop will continue?
1. The volume fall every week
2. Similar fractals from 2014-2015 (I talked about this in past ideas)
3. The current situation is similar with November 2018, just before the fall (the same RSI, Index Fear&Greed).
4. We are on the verge of a financial crisis. Yes, yes, friends! It is necessary to know. Liquidity leaves all risky markets. A cryptocurrency is the highest-risk assets, so the big money will come here at the very least, so do not count on to the moon in the next couple of years (I'm going to make a separate review on this topic).
Therefore, we continue to keep our short, which we opened at $4200, put your stop-loss at no loss. Who hasn't opened a short with us is better to wait for the trendline to break down at $3500, or to wait for a false breakout of resistance at $4400.
I will be very happy if you rate my work with your likes, comments and subscriptions!
I received a lot of messages asking “Why am I so bearish, do you really not consider any other options?”
And I answered that a bullish option exists and it will be used only when the bearish trendline is broken out, which Bitcoin can't break since spring 2018. Today this level is at $ 4400. After breaking out the price should be fixed above this line and only after that I am ready to consider long. But the probability is extremely small. I give it to happen 10-15%.
Why do I think the drop will continue?
1. The volume fall every week
2. Similar fractals from 2014-2015 (I talked about this in past ideas)
3. The current situation is similar with November 2018, just before the fall (the same RSI, Index Fear&Greed).
4. We are on the verge of a financial crisis. Yes, yes, friends! It is necessary to know. Liquidity leaves all risky markets. A cryptocurrency is the highest-risk assets, so the big money will come here at the very least, so do not count on to the moon in the next couple of years (I'm going to make a separate review on this topic).
Therefore, we continue to keep our short, which we opened at $4200, put your stop-loss at no loss. Who hasn't opened a short with us is better to wait for the trendline to break down at $3500, or to wait for a false breakout of resistance at $4400.
I will be very happy if you rate my work with your likes, comments and subscriptions!