Look at the monthly timeframe What do you see? Higher timeframes never lie and they're very simple to understand! We see a double top around 60_70K which is a very strong resistance also we see a bearish divergence because as price making higher highs RSI making lower highs also RSI is overbought. There's a support around 18_13K and also 100 monthly EMA is exactly there to support the price in future. These are very simple and obvious. Now you look at the chart and tell me what do you expect from bitcoin?
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As you see guys higher timeframes never lie. When we're bearish in higher timeframes it means indeed we're bearish in longterm. 17K is in sight.
Also volume is low and MA crossing is coming. This is going down but the manipulators maybe pump it some more in order to trap more fishes. Thanks.
Pi23
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long term short. short term long. so its not the best time to short. Im holding long from 41000.
CryptoTitans1
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@Pi23 yes Higher timeframes are not for short-term trades. They give you a big picture of global trend
scrom_indicator
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i think BTC is going to reach
etanthony1
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The higher it stays up here, the higher that MA will go too though. I think a short at some point, but not yet, and also not quite so far down, unless it's because of a true overall financial crisis/crash. And then I would still close shorts well above and not be trying to knife catch a bottom either.