Short in Bitcoin with a target price of $2k
Updated
Investors entering with short positions should be careful with the possibility that these last day moves are a false bearish break.
In the last few days we have opened short positions in several futures of the blockchain sphere for the next 2 months. Our target for Bitcoin in January/February is 3,000 to 2,000 dollars.
The triangular pattern that BTC crossed bearishly had a volatility of 2300 points, so the first bearish trend that Bitcoin should have is 6000 minus 2300. The result is 3700, and if the price falls from its 3400 support level, 1 BTC could cost around $2,000 in January-February 2019.
The most likely scenario is that Bitcoin will fall to its support lows, with the MM210 on the weekly chart being its strongest resistance. We will not be in an uptrend until the price is > MM70 which is > MM210, with both MM being bullish. For that situation, we could easily wait until 2020.
In the last few days we have opened short positions in several futures of the blockchain sphere for the next 2 months. Our target for Bitcoin in January/February is 3,000 to 2,000 dollars.
The triangular pattern that BTC crossed bearishly had a volatility of 2300 points, so the first bearish trend that Bitcoin should have is 6000 minus 2300. The result is 3700, and if the price falls from its 3400 support level, 1 BTC could cost around $2,000 in January-February 2019.
The most likely scenario is that Bitcoin will fall to its support lows, with the MM210 on the weekly chart being its strongest resistance. We will not be in an uptrend until the price is > MM70 which is > MM210, with both MM being bullish. For that situation, we could easily wait until 2020.
Note
We have opened a new average bearish position at 5.300
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