BitcoinShort
Crack in the floor, potential down to 12.5k?
Updated
Bears have been reaching targets and finally breaking the low end of the floor (33k) for the first time since 2020.
I am still very bearish with a potential all the way down to 12.5k. The only major hurdle in the way is the potential 20k line (not shown as it is over 4 years ago and unknown if still relevant).
However we are at a battlegrounds line as it is - 29k. It could rebound here and enter into neutral territory. It could also just as easily rebound and crash back down further with the volatility. I personally will be staying away from Longs and the bulls until I see a more decisive flip. Even if we reach past the neutral zone, it will still take convincing as volatility in the short term would be very high.
I am still very bearish with a potential all the way down to 12.5k. The only major hurdle in the way is the potential 20k line (not shown as it is over 4 years ago and unknown if still relevant).
However we are at a battlegrounds line as it is - 29k. It could rebound here and enter into neutral territory. It could also just as easily rebound and crash back down further with the volatility. I personally will be staying away from Longs and the bulls until I see a more decisive flip. Even if we reach past the neutral zone, it will still take convincing as volatility in the short term would be very high.
Trade closed manually
The crash did not quite reach 12.5k as predicted. However, it did crash from 29k to 18k, now 19k - nearly 33% short gains. I recommend taking short profits and re-evaluating the next strategy. My next prediction will be up soon.
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