Looking at the daily chart
, it appears we have 1 or 2 more days before the rug starts getting pulled out from under BTC
. All those who take a high capitol low leverage short will make some great money over the next few days. Position entry should be between 6900-7000 and look to take profits in this order depending on comfort
and patience...6750, 6500, and 6300. All trades come with risk and this is only my educated guess so don't make any trades you aren't confident in. Missing out is better than losing money. The only way i see this trade as being too risky is if the price exceeds 7050 in the next 24-48 hrs
. The descending upper trend line
on the chart has been acting as resistance since mid february and has yet to be broken in any of the dozen+ times it has been tested. So if the price goes past it by more than $50, then I would assume the bearish trend
has been broken and a short would be too high risk.