Many people are probably short now, so go long?
If we go LONG now, it can take one, two weeks, to 4750/4950 (between fibonacci ret. 0.382 and 0.5) depends on where you look, then a fast way down, probably before end of this month, maybe begining of next, the rock botton should be between 21-2300 - 28-3000 (MA200).
If we go SHORT now, it will get more bumpy down with ups and downs, can maybe take one month longer to reach rock bottom.
Then the rock bottom could go even lower maybe around 11-1300 - 19-2100 depends on where you look.
If we go LONG now, it can take one, two weeks, to 4750/4950 (between fibonacci ret. 0.382 and 0.5) depends on where you look, then a fast way down, probably before end of this month, maybe begining of next, the rock botton should be between 21-2300 - 28-3000 (MA200).
If we go SHORT now, it will get more bumpy down with ups and downs, can maybe take one month longer to reach rock bottom.
Then the rock bottom could go even lower maybe around 11-1300 - 19-2100 depends on where you look.
Note
The Stoch RSI are overold and the RSI, on the MONTLY chart!Note
Oh, I forgot a area and a line (3600), important one, to busy watching the long areas :), if we go below 3500 bitstamp/coinbase and 3600 bitfinex, probably fast way down to 2900-3000 for that moment, could go even lower, ultimate support is around 1K.
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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.