BTC Pi Market Top Indicator - Now is not the time to be Short.
When there is extreme fear in the markets, it can be hard to stay in sync and decide if you should be longing or shorting, but sometimes the best trade to take is no trade.
Although the price is bearish and likely to dip further, I would not be looking to open any BTC shorts here, as I think we will start to see a lot more volatility and choppy price action.
This is the time to assess the bigger picture, zoom out, set low buys and think about the bags you want to be holding when the next Bull cycle kicks off.
My ultimate bottom-buy zone to build a great long term position is around 25k - 20k but I will not be comfortable if we spend an extended period of time at those prices. I only want to see wicks down and a sharp buyback.
If it dips beyond this then I will be scared as there would have most likely been a major swan event causing an extended bear market.
Although the price is bearish and likely to dip further, I would not be looking to open any BTC shorts here, as I think we will start to see a lot more volatility and choppy price action.
This is the time to assess the bigger picture, zoom out, set low buys and think about the bags you want to be holding when the next Bull cycle kicks off.
My ultimate bottom-buy zone to build a great long term position is around 25k - 20k but I will not be comfortable if we spend an extended period of time at those prices. I only want to see wicks down and a sharp buyback.
If it dips beyond this then I will be scared as there would have most likely been a major swan event causing an extended bear market.
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