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BTC trade ideas

BTC - RETEST OF THE 100BN LEVEL? THINKING ABOUT THE NEXT TARGETSHello, as you know, I am shorting BTC from 6700, the first target has been reached, but what can be a second one? In the linked idea I mentioned below 5k and 4k level as extremely bearish level just by looking at supports and resistances, but looking at other indicators probably it will be higher. A retest of the 100bn market cap level is likely, and considering the 18.3millions BTC in the market, it would correspond to a level of 5400. 5400-5500 is also the 200weekly MA, a level that was broken in the past but the price never closed below. 50 months MA is at 5100, another super stron leve that held the price many times. So my next target is the are 5100-5400, after that I expect a consolidation/increase, this time a long lasting one. BTC dominance has little room to go on the upside, just a couple of % points, assuming the descending triangle we are in is correct. I think it is cause we broke the ascending dynamic trendline at the beginning of 2020, meaning the the longer term trend is down. This is consistent with a "small" way down to 5100-5400, after we will see the full recovery! To sum up-> SHORT TERM SHORT, LONG TERM LONG !!
CRYPTOCAP:BTC
by edutradinguru
Bitcoin Dropped Under $8,500Bitcoin began 2020 with a big rally. It traded at $9,186, giving the investors hope that the price would reach $9,200. However, after a short period, the cryptocurrency began the long downfall, at last dropping as low as $8,200. During the last days, BTC skyrocketed all of a sudden, and for a while, it seemed that the crypto would hit the record. However, so far the growth turned out short-lived. According to CoinDesk data, Bitcoin fell to $8,290.24 on Thursday. The cryptocurrency declined by about 3.6% from $8,597.33 in less than six hours. Tim Enneking, the Managing Director of Digital Capital Management, thinks that in the long-term, crypto will manage to grow again even though it may suffer more losses in the meantime. The past six-month downfall has changed to the upside. The progression on lower lows at the bottom of the corridor have also switched to higher lows for the past month or so – says Enneking. Joe DiPasquale, the CEO of cryptocurrency Hedge Fund Manager BitBull Capital noted, that the current decline could be caused by rejection in the resistance zone between $8,750 and $9,100, following which profit-taking made sense for investors and traders. He also stated that the fall under $8,500 puts additional pressure on Bitcoin’s price. Despite Bitcoin’s dropping price, there is still strong support between $8,000 and $8,200. Analysts expect that the price to take a breather and decline, at $8,200.
CRYPTOCAP:BTC
by Financebroker