In my opinion price will reach between 16000-16170 before moving to the downside. It has been brutally hard to call shorts in this Bull Market but we might see a potential move to the downside around 16k. I'm quite confident Bitcoin will touch ATH within 2-3 months. It might be wise to only go for long opportunities as it should be much more profitable then shorting. GoodLuck!
Comment:
I should note that if price does decide to bounce and breaks over 15800 that would most likely negate the trading idea. And we are in extremely bullish territory so we might reverse before we touch the green line. It would be pretty smart to take profits in between. Shorting in a bull market is usually very tricky.
Comment:
Observing the new candles it looks like theres a chance we can break 16K temporarily we have many stop losses set around there most likely. The smaller time frame HS already played out and got rejected. It looks like we are more in a giant BART but well see. I'm personally not convinced we go to 17k just yet but a possible play is that we hit over 16k bears have their stop losses set there and bulls probably have their longs set there. Market is looking to liquidate as always so well see.
Trade closed: target reached