Bitcoin definitely has the potential to break higher above 
42K, but I believe now might not be the time. I'm suspecting a bounce off the current top and a retracement lower towards $35k. For those that watch Bitcoin on a regular basis, I wonder how frustrating it will feel if Bitcoin now drops down to $30k, while knowing there was a window of opportunity to book some profit at these levels.
For me to conclude my bearish thesis, I can ask myself one simple question: "would I buy at this price?"
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"Always prepare yourself for the unexpected turn."
Paul Forbes - Managing Partner @ LEFTURN Inc.
42K, but I believe now might not be the time. I'm suspecting a bounce off the current top and a retracement lower towards $35k. For those that watch Bitcoin on a regular basis, I wonder how frustrating it will feel if Bitcoin now drops down to $30k, while knowing there was a window of opportunity to book some profit at these levels.For me to conclude my bearish thesis, I can ask myself one simple question: "would I buy at this price?"
----------
"Always prepare yourself for the unexpected turn."
Paul Forbes - Managing Partner @ LEFTURN Inc.
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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.