btc has been in an descending broadening wedge since it topped last last year at 13k, now broadening wedges are known for their big swings/high volatility.
There are 2 options now;
either btc breaks up in the coming days/week and we rally up to 14k, we could
The other option is btc continous for another leg down in this broadening wedge will take us approximately to 3k.
This last option will be assumed by many to be highly unlikely, but it definitely could happen and you should be prepared for it because if this option does play out things won't go down slowly that is for sure.
I am not saying that by this you short btc into abyss with 10x leverage because there is a possibility for another leg down, i mean by this that if you have bought at the bottom last month I would recommend taking profit and getting back in either when btc breaks out of the wedge or in case this doesn't happen you have the possibility to buy some extremely cheap btc.
tldr; btc is in broadening wedge, either we break up from here in the coming days/week or we visit the bottom of the wedge at 3k.
There are 2 options now;
either btc breaks up in the coming days/week and we rally up to 14k, we could
The other option is btc continous for another leg down in this broadening wedge will take us approximately to 3k.
This last option will be assumed by many to be highly unlikely, but it definitely could happen and you should be prepared for it because if this option does play out things won't go down slowly that is for sure.
I am not saying that by this you short btc into abyss with 10x leverage because there is a possibility for another leg down, i mean by this that if you have bought at the bottom last month I would recommend taking profit and getting back in either when btc breaks out of the wedge or in case this doesn't happen you have the possibility to buy some extremely cheap btc.
tldr; btc is in broadening wedge, either we break up from here in the coming days/week or we visit the bottom of the wedge at 3k.