grahamtownson1
Short

BTC still in downtrend

BINANCE:BTCUSDT   Bitcoin / TetherUS
I believe that, while much has changed since the last big bull run and subsequent bearish period, BTC is still in a downtrend and I would not recommend going all in for a long ride up until the price reaches 2250 - with this in mind I am setting my take profits lower on long positions and only trading with margin in short positions - I am predicting that BTC will fall down to the 6500 level, consolidate, break down to the 4000 level, consolidate, and break down to the 2250 level (others have predicted a fall down to the 1000-level), consolidate, and then uptrend - I have been trading for many years but am still learning technical analysis (I know, it has taken me way too long :/) so I do apologize that my chart is not very complex; however, I wanted to warn new traders not to hope for a upwards breakout that will result in a trend-change on the 4-hour and daily charts - currently, BTC looks like a buy when looking at the shorter-time-frame charts such as the hourly, 30 minute, and 15 minute, and in fact, it very well may be a buy for a shorter-term long position; however, traders should be weary of a potential decline in BTC - additionally, BTC is traded globally and different regions have different news outlets and different regions act on news differently, I have found that, during the U.S. trading session, BTC is often pumped, while during the normal trading hours of other sessions around the globe, bears retake control - I hope someone benefits from this post, it is my first post - feel free to give me feedback

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