If you are day trading, this would not be an ideal place to open a new long position, unless you dont care about a drop. High risk. Personally I would never consider to short Bitcoin either, I'm simple reducing risk by taking some profits.
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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.