There are a few reasons why I'm currently going long with Bitcoin.
1. It recently had a big dump that rekt a lot of longs.
2. Now you get a lot more shorters (also bottom shorters)
3. We hit 2 daily levels as well at 8420.5 & 8357
4. After killer wicks that go both ways Bitcoin usually goes back to the mean.
These 4 reasons are why I think we will see at least 8.6k+
1. It recently had a big dump that rekt a lot of longs.
2. Now you get a lot more shorters (also bottom shorters)
3. We hit 2 daily levels as well at 8420.5 & 8357
4. After killer wicks that go both ways Bitcoin usually goes back to the mean.
These 4 reasons are why I think we will see at least 8.6k+
Trade active
Keeping an eye on this pump right now to see if we get any follow up or that it will be another slow bleed.Note
Shorting this failed rally to rebuy lower.Note
And I'm back long now, seems like the dump was temporarily. 
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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.