BitcoinShort
BTCUSD - SHORT - 4hr/1D
As the world is bullish on bitcoin, I see just the opposite. The pullback phase hasn't died yet and I call for a drop to 8200 support level on a short term(4HR-1HR). And Even further drop to the crucial 6200 support level in until next month(4Hr-1D). In my other post(check it out,BTCUSD long term analysis), I called for 5100 levels as the lowest the bitcoin could move before the bull run we have all been waiting for since 2018.
Reasons for my statement:
1. The bulls coudn't cross the 9500 resistance, have been a few tries, and every new move is with a diminishing power of buyers.
2. We are still in a short term bearish phase.
3. The buyers are in, but a test is necessary. and the test will come down to 6200.
Reasons for my statement:
1. The bulls coudn't cross the 9500 resistance, have been a few tries, and every new move is with a diminishing power of buyers.
2. We are still in a short term bearish phase.
3. The buyers are in, but a test is necessary. and the test will come down to 6200.
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.