today I will show you why and when is good time to be bearish on Bitcoin.
Current situation - almost whole month goes bitcoin down from new ATH. Situation on market is not easy, because many traders have open long position and every day they are loosing money.
But, is it good time to be bearish? Yes, it's possible, but not now. If you check daily chart, you will see that bitcoin still didn't make lower low and lower high.
Lower low and lower high is very importatn formation for trend reversal!!!
In case bitcoin should go to bearmarket, is imporatnt to close lower then 40 500USD. When the price is above this level, still is very big chance to go up.
If price drops down, below 40k, don't close your long position. You can close this position on retest 50-54k. In this are is quite big volatility and price will go there for sure.
Simple. Btc wlli never go down below 40, if , down, whales manipulate this. in absence of right regulatory framework, this is being manipulated as much ad those few whales like it. pathetic.
UltimateCryptoTrader
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@Jay_1972, 40k is still possible. But if breaks this level, we can also visit 35k and lower...
basdawoodjan
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YOU DID A GREAT JOB..THANKS...be ready for 21 20 19K it will drop soo badly...if it close daily candle below 44K...i am waiting for this from last 65K high...it hit 28K but didn't drop down to 21 20 but this time it will drop to these levels...mark my words...soon it will happen..21 to 19K WAITING LIST...
@UltimateCryptoTrader, REMEMBER BROTHER.....on daily and weekly chart you will see head and shoulder pattern it will be completed if BTC go to near 58K and then down....next possible price will be 19 20 21K...if it break to up side high from 58K then it will be easy to reach 84K...
basdawoodjan
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@UltimateCryptoTrader, REMEMBER me..hi how you doing it's time to hit 16284K GO for it and all in..good luck..
TradePlus-Fx
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Thanks! my view for the next week, bearish👇
UltimateCryptoTrader
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@Viktor_Vladzimirovich, yes, looks similar, as I wrote in analysis, is importatn to make lower high...
ClearOpenDoor
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Excellent work! Its hard to say what will happen, but this looks like a good idea 💡