lamppole
Short

$3k Test for BTC determines shorts/longs

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTC is headed down. A $3k support will be sure to be tested by the bears. If they can cause a collapse we will see the next support of $1200 tested.

However, if the bulls can make a strong pull up to the previous support we could see BTC leaving this market price for long term.

This is farther supported by the fact that there are no reversal indicators. Sure, there are some short bullish signals from the 1H and 4H chart but it hasn't marked any significance on the daily chart . There is no reason the bears can't push down to 3000. When this happens there will likely be a bounce but watch the collapse closely before feeling like you missed out. Set buy/sell limits. Don't be afraid to lose out on small % to have confidence you aren't completely losing or getting too big headed.

As a cautious trader or long-term believer, you want to miss out on the short 3000 buy vs the 3000 buy that drops to 2000.
Comment:

Likely to see the next couple days be the timeframe for us
Comment:

Still coming
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