BTC/USD. Is this the right time to short?!
Updated
Lately Bitcoin is really confusing ,at least to me , as I am so eager to short it. But may be I was wrong, or right but with the wrong timing .The 4h charts presents an ascending pennant pattern that follows the trend line since 15th of September(refer the fork). I believe that now we have reached the bottom of the fork and we are facing 2 options as always up and down. As it is ascending and we have bull market for 45 days and we expect the segwit2x I believe that we will need to reach 7k before going down.
In opposition to that idea -
Since 1st of September 2017 the crypto market cap hasn't grown and moving under 180 billion. And in order Bitcoin price reaching 7000$ or 7500$ ,we need to attract fresh money (15%-25% = 15 - 25 $ billion ) or squeeze out the Alts. I believe that both things will happen if we go in that direction.
Jhttps://coinmarketcap.com/charts/
!!! HAVE IN MIND!!! I am just sharing my point of view , I am not professional, just enthusiast. Cheers!
In opposition to that idea -
Since 1st of September 2017 the crypto market cap hasn't grown and moving under 180 billion. And in order Bitcoin price reaching 7000$ or 7500$ ,we need to attract fresh money (15%-25% = 15 - 25 $ billion ) or squeeze out the Alts. I believe that both things will happen if we go in that direction.
Jhttps://coinmarketcap.com/charts/
!!! HAVE IN MIND!!! I am just sharing my point of view , I am not professional, just enthusiast. Cheers!
Trade closed: target reached
I believe that we will observe a correction toward 6200 and rebound! toward 10k.
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