Looking at Bitcoin right now, it's kind of hard to view it as a short opportunity on it's face. That said, I'd be kind of surprised if we didn't finish the road down to $5,000 before finally bouncing upwards. We have gotten so close to retesting that resistance as support, it'd be a bit odd to bounce here. As you can see, the 1H chart is looking fairly bearish as well, with MACD nearing a cross down as well as Sqz Momentum. So for now, I'm still expecting one volatile rush down at some point this weekend.
This could potentially be a great opportunity to short Bitcoin on a leverage trading platform.
Watch for the bottom of this pennant at around $5500, if that fails to hold and volatility comes in, then $5000 is without question on the table.
This could potentially be a great opportunity to short Bitcoin on a leverage trading platform.
Watch for the bottom of this pennant at around $5500, if that fails to hold and volatility comes in, then $5000 is without question on the table.
$50,000,000 in Tether has been moved to the Bitfinex exchange, potentially leading to a pump in Bitcoin. Let's see what happens!
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