After getting the profits from a previous trade on Bitcoin (see link below), it is time to plan another short position in a market that is clearly bearish, despite what Bitcoin enthusiasts might say.
The market is following the first 3 phases of what is known as "stock life cycle". Since Bitcoin is also a market dominated by emotions, with many improvised investors and traders just betting on the Bitcoin dream, I think it makes sense to plan our next trade following this cycle.
I expect buyers to react and try to buy Bitcoin at a lower price, pushing it towards $9,000. After that, I expect Bitcoin to go towards $6,000 by the end of the year.
With an amazing risk to reward ratio, this trade is definitely worth a try!
The market is following the first 3 phases of what is known as "stock life cycle". Since Bitcoin is also a market dominated by emotions, with many improvised investors and traders just betting on the Bitcoin dream, I think it makes sense to plan our next trade following this cycle.
I expect buyers to react and try to buy Bitcoin at a lower price, pushing it towards $9,000. After that, I expect Bitcoin to go towards $6,000 by the end of the year.
With an amazing risk to reward ratio, this trade is definitely worth a try!
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