Quick Correction | Bitcoin Short Opportunity
Updated
There has been a more than 100% increase without any significant correction (more than 20%) since 6th FEB 2019.
This volatile movement would be undoubtedly followed by a major correction.
Even the current situation is a confirmed Bull Market, A major correction of at least 25%-30% is required.
Still, there is no bearish confirmation, It should be very volatile. If Bitcoin finds support near 6k, then that would be very healthy for altcoins.
Don't convert to Alts yet, there is a lot massive volatile movement coming soon in Bitcoin.
The market is expected to be very volatile, and expect a quick rebound after correction.
Use a stop-loss above 7100.
And take profit from 5500-4800.
Please do not consider this as financial advice.
“The four most dangerous words in investing are: This time it's different.” - Sir John Templeton
This volatile movement would be undoubtedly followed by a major correction.
Even the current situation is a confirmed Bull Market, A major correction of at least 25%-30% is required.
Still, there is no bearish confirmation, It should be very volatile. If Bitcoin finds support near 6k, then that would be very healthy for altcoins.
Don't convert to Alts yet, there is a lot massive volatile movement coming soon in Bitcoin.
The market is expected to be very volatile, and expect a quick rebound after correction.
Use a stop-loss above 7100.
And take profit from 5500-4800.
Please do not consider this as financial advice.
“The four most dangerous words in investing are: This time it's different.” - Sir John Templeton
Note
If you find this analysis useful, Please like this post.Comment your thoughts about it.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.