Bitcoin has dropped 9%, could go to 3 000$
Bitcoin just dropped 9%. It has not reached the point where its bearish trend is confirmed in the coming months. That point is <5k more than 3 days. The November 19 candle on the weekly chart will give us the information.
Technically, there is now much more probability of a downtrend than an uptrend, with the price most likely heading towards its MM210, which would be approximately a price of $3,000.
Strategy, same as before
Bearish Positions: If you are a long-term investor, you could go short at -5,000 with targets of 3,000 and thus take advantage of the bearish trend with a reverse trade.
Bullish Positions: Long positions for average should not be positioned if the trend is not >8k.
Technically, there is now much more probability of a downtrend than an uptrend, with the price most likely heading towards its MM210, which would be approximately a price of $3,000.
Strategy, same as before
Bearish Positions: If you are a long-term investor, you could go short at -5,000 with targets of 3,000 and thus take advantage of the bearish trend with a reverse trade.
Bullish Positions: Long positions for average should not be positioned if the trend is not >8k.
Related publications
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.