Following on from our last post, we indicated that there's a final bearish wave left. We are now on the verge of breaking down for the final time.
Once this bearish leg is completed, we will be looking for bullish price action for the next bull run.
Shorting Bitcoin here will be a bit risky with limited gains to be made. The bigger and better trade would be to wait for Bitcoin to bottom out and then look for buys.
However, if you want to trade the final shorts, approach it with caution.
SHORT Trade Idea: - Watch for break of red ascending trendline - Once broken, enter with stops above the recent highs - Targets: 17700, 16000, 14500
We'll be back with an updated post once this bearish leg is done.
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