Has the time come? we have spiked upto 34k which is usually a sign that the end is near. Im doubtful of shorting a raging bull. but the profit taking will likely lead to a new higher low being made in bitcoin. Price atm on the daily is making a pinbar and looks like it is rejecting these prices. Look to short a potential breakdown in price.
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4h chart making a 0.618 pullback so we could rally higher, no trade taken as of now
BTC bulls are part of a cult or religion, I swear. Say anything they consider heresy and they foam at the mouth.
Agreed with your analysis, the end is close.
UnknownUnicorn6102956
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@zippy100012, so true man, going short isnt me doubting btc, its experience lol. bulls make money, bears make money and pigs get slaughtered its the way of jungle. and thanks for your input
rcolomina
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Puting tge target on 18979 implies more tha 45% of price correction from ath. I think is too much. We won't see btc on those prices again...
UnknownUnicorn6102956
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@rcolomina, lol you need your head spun. remember last time in 2017 where btc reached 20k? it fell 50 percent and actually ended up at 4k. just because your long doesnt mean your right. the target is directly on top of the ema 89 which is common for price to return to at some point. with risk management if your risk reward is 2:1 then you can take profit. who cares if the final target of 19k on top of the 89 is hit? the trade secured money. LEARN TO TRADE
rcolomina
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@Feltzilla, regarding the comparison with the end of 2017 of the bull run you are comparing with the WRONG period. We are just at the very beginning of the bull market, that will take us to 60K-100K and beyond during 2021. During 2017 corrections were 20-30%, those big corrections only came in 2018. That's why I've said that 45% is too much.
By the way, I can draw Fibonacci levels all the way up having everywhere your happy big short trades so trading value ZERO!! I think we are on a parabolic move which is as imaginary as yours levels, but at least I've got the fundamentals on my side, the industry is really growing. You have no idea of fundamentals what so ever.
Agreed with your analysis, the end is close.