Bitcoin: 20 000$ as Target and How to Short

BYBIT:BTCUSD   Bitcoin / U.S. Dollar
It looks like ATH will be reached without a correction. We can see the strong uptrend where buyers don't want to fix profit, and they are ready to open new long positions. The price was not corrected at 14 000$, 16 000$, and 18 000$ resistance zones because of such behavior.

In spite of a new trend reversal signal based on a bearish divergence, I don't think we will see a correction from 18 500$. If the buyers didn't want to exit from long positions at strong resistance, 18 500$ doesn't look like a reason as well. I guess that ATH is an obvious target for many buyers.

How to trade?
The price closed my short trades by stop. But I still think that now it is not a good time for buying. For me, it is obvious to search for new bearish setups. I will wait for a reversal signal from ATH or a false breakout above 20 000$. I will try to catch a possible correction movement with targets at 18 000$, 16 000$, 14 000$ and, after that, use reversals for opening new long positions. It is clear now that the bullish trend will be continued and we will get a new ATH . But I want to have long positions after the correction.

If you like short-term trading, probably for you, the market will give a few bullish setups in the 5-15m timeframes from 18 000$ - 18 500$ and with the target at 20 000$. But you must be very careful! You will buy at the top, and you shouldn't be surprised if the price reverses and you will see a correction movement.

This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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this is my current view. if we close november above 16K than everything is possible ...

+3 Reply
Psychological level. panic everywhere
Shorts are going to get squeezed by the pros.
Divergence played out I think 🐻‍❄️🙏😊😃
good idea
30k then 40k forget shorting
Very nice. Thanks.
Interesting chart!! thanks! 👍🏻🦐🔝
Agree with you friend
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