Hi guys, wanted to share a few thoughts about Bitcoin. I think you all noticed how Bitcoin failed to be reserve currency for now and it is definitely aligned with all assets that are labeled as "riskier'. Reaction on inflation talks is supporting that idea as well. So, I anticipate hard time for crypto market after tapering the economy that will happen sooner or later. Don't forget about recent mining problems and attempts of more intense regulation. My long term view is substantial decline (next 3-4 months).
When you look at the daily/weekly chart, they show that BTC is very bearish. It formed the channel and it looks like to consolidation to move lower. My plan is only to open some short positions if we reach $40,000-$42,000 or will brake $28,000 (only on pull back). Buying this pair looks very risky for now.
When you look at the daily/weekly chart, they show that BTC is very bearish. It formed the channel and it looks like to consolidation to move lower. My plan is only to open some short positions if we reach $40,000-$42,000 or will brake $28,000 (only on pull back). Buying this pair looks very risky for now.
