Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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"The bottom is in" is what they say. That's not what I'm seeing on my chart and it's this kind of market sentiment I like to see when making short predictions.
If you zoom out on the chart, you'll see Bitcoin has some room to go up while still maintaining the long term bearish trend.
I'm seeing 4200-4300 as a good range to short if we get there. This range aligns with the long term trend line and Fibonacci extension from the recent impulse move up. BTC is also currently in the range of high count peak Hurst Cycles signaling we're in the right time frame for a swing high.
I'm predicting next major swing low on Bitcoin in late April 2019, based on long term Hurst cycles analysis. If we fail to break and hold above the long term trend soon, it can easily continue back down for the next two months.
In my opinion - "The top is in soon" for the next few months.