Bitcoin: Bear Trap - Still Expecting The Move Up
Current Situation:
The last hours were fun. Bitcoin has dropped very sharply down from about $7,700 to $7,200.
Prediction of others:
Many longs and shorts were closed on this down move, which were opened before. That means people are unsure what happens.
Shorts:
Longs:
My last prediction:
I have written before that a drop is still possible, but I did not expect that the people are so bullish and open many longs. The result was that we reached $7,200, and many shaky hands made losses. Nevertheless, this idea is still active. Only the targets have changed.
Last idea:
My current prediction:
I keep telling you and will continue to do it on every idea: do the opposite of what the crowd does. My opinion is the same after this drop and I will not change it so fast. Short term, we continue to be bullish. However, I could imagine now an upmove to max $7,800 area before it goes down strong. Many bulls have been targeting $8,000 for the past few days, so I'm looking for another target that could fit.
Final word:
My altcoins ideas are still active. Good luck.
Current Situation:
The last hours were fun. Bitcoin has dropped very sharply down from about $7,700 to $7,200.
Prediction of others:
Many longs and shorts were closed on this down move, which were opened before. That means people are unsure what happens.
Shorts:
Longs:
My last prediction:
I have written before that a drop is still possible, but I did not expect that the people are so bullish and open many longs. The result was that we reached $7,200, and many shaky hands made losses. Nevertheless, this idea is still active. Only the targets have changed.
Last idea:
My current prediction:
I keep telling you and will continue to do it on every idea: do the opposite of what the crowd does. My opinion is the same after this drop and I will not change it so fast. Short term, we continue to be bullish. However, I could imagine now an upmove to max $7,800 area before it goes down strong. Many bulls have been targeting $8,000 for the past few days, so I'm looking for another target that could fit.
Final word:
My altcoins ideas are still active. Good luck.
One more drop to around $7100 is possible today. Next week should be bullish after weekly close.