Here are some bearish factors?
1).We had a pi cycle top on 26 October.
2).We have continually failed to break the linear regression trendline despite bitcoin breaking its 64k resistance.
3). It has rallied 232.37% in 34 days.
Conclusion:
The risk of a Potential upside rally while highly likely vs a potential short term wash of leverage by bearish price action.
I choose the bears for they have best t.a. Price target of 1.9 about -35%.
Trade responsibly and follow me on my twitter
1).We had a pi cycle top on 26 October.
2).We have continually failed to break the linear regression trendline despite bitcoin breaking its 64k resistance.
3). It has rallied 232.37% in 34 days.
Conclusion:
The risk of a Potential upside rally while highly likely vs a potential short term wash of leverage by bearish price action.
I choose the bears for they have best t.a. Price target of 1.9 about -35%.
Trade responsibly and follow me on my twitter
Trade active:
Stoploss at all time highs. price 3.6
Comment:
upcoming resistance
Trade active:
If btc continues with the correction. We may have momentum to break the trendline.
Trade active:
Can resistance trendline turn into support ? Well first lets shift stop loss to breakeven and just wait and see
Trade active:
Its a beautiful sight when we get majority of moving averages flash sell. only the 200 moving average remains as the bulls last stand defense.
Trade active:
Bears continue showing their strength.
Trade closed: target reached:
ending my overall ftm short
