Picture is clear for me now. We need a decent pump from a low price range. 3K looks ideal right now. After that we will decide whether btc is going to change its trend or continue going down. There is going to be a huge resistance from years long trend line support... I don't thing we can break that in a second. If we keep going down 1.3K is a HUGE support. You can buy there and hold for years to come...
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Somethings have changed
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Looks like nothing has changed since I made this post. That pump was only a small correction. We got the dump to the low 3K area and now pumping as expected. I'm slowly scalling into shorts right now. At 4.850 I will be fully Short levaraged. If we get as high as 54XX I will consider doubling down. There is no way we will get above 6k resistance.
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Please consider that It is starting to get dangerous to short BTC at these lows. Market could turn bullish soon. This is a risk I'm willing to take and This is how I want to play this because I don't want to convert my holding to fiat. Thats why I'm shorting not because there is huge profit potencial but to defent myself from the downside risk. I'm shorting because I have BTC holdings. Shoting below 3K is unreasonable in my opinion. From 3K it can go as low as 2K and risk is not worth it. Even if it goes to 1.3K it is not worth to short anymore. Shorting at 3K is like buying above 10K when we had the parabolic moves up. Investors should be thinking of buying in not selling or shorting. This is the last time I'm shorting BTC. I will let you know how the trade is going and when I will be closing my orders.
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I'm waiting for btc to challenge that trend line to enter shorts.
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It is at 6K. How convenient...
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Purple trend line there is resistance. We are trying to break it. I would short it here if I wasn't down on my altcoin trades.
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Short target at 7K right now. Purple trendine