Bitcoin has broken 6k. You can long the bounce, but expect lower
Updated
Everything should be on the chart. We now know that the retail who were long before the dump are now short. So you can probably pull off a low leverage long either here or at a lower price.
Keep in mind due to the extreme drop we just had, there is a high chance for a further dump, so make sure you use a stop loss below the liquidations.
Thanks for viewing! I have remained bearish on Bitcoin for the past few months and have stated I expect a minimum of 4.6k USD. The real bear market will last until the halving. Hopefully volatility picks up so we can make money in the meantime. Anything is better than a flat market.
It's a bad time to be a bull but keep in mind if we do get another final rally for crypto, this is the time to be buying Bitcoin. You can dollar cost average down and invest 5% of your cash in crypto over the next year. I do believe we will get a third rally and Bitcoin is very likely to survive. I can't say the same for altcoins.
Keep in mind due to the extreme drop we just had, there is a high chance for a further dump, so make sure you use a stop loss below the liquidations.
Thanks for viewing! I have remained bearish on Bitcoin for the past few months and have stated I expect a minimum of 4.6k USD. The real bear market will last until the halving. Hopefully volatility picks up so we can make money in the meantime. Anything is better than a flat market.
It's a bad time to be a bull but keep in mind if we do get another final rally for crypto, this is the time to be buying Bitcoin. You can dollar cost average down and invest 5% of your cash in crypto over the next year. I do believe we will get a third rally and Bitcoin is very likely to survive. I can't say the same for altcoins.
Note
Also, if we do move up, you will likely be shaken out.I believe most of you are shorting after the dump, possibly revenge trading.
Note
Just buy the bottom and hold your long. I believe the major stop hunt already occurred, and bitcoin is free to move up.Note
Also, XRP is extremely bullish for some unknown reason. I would hold off shorting it for now.Note
I am bullish here. I bought Bitcoin near the bottom. I expect at least 15 days of consolidation before the next major move.They will their best to shake you out, like they always do. If you want to hold a position, don't use high leverage. Currently we are getting plenty of liquidations currently as people seem to have gotten back into the market, likely shorting Bitcoin.
Note
As for longer term, I stand by the original target of 4600, but it will take a while to get there. I don't believe Bitcoin will drop lower than 3000.
Related publications
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.