Bitcoin is in a bear market. That is a FACT. However, there are still different ways on how Bitcoin's next move can play out.
In just a bit over 10 days, Bitcoin has broken it's major support level and headed all the way to less than 4000$. Although this might seem like a tempting place to buy for "cheap" and go long, we must remain calm and see what the charts...
After breaking the market structure and the massive support at 6000$, Bitcoin's price has been dropping massively. And yesterday's drop didn't help it either. So what are the next PROBABLE moves? Let's see the complex puzzle of Bitcoin -2.52% from different angles and get right into it.
Setting up our short play.
STEP 1: Understanding the PSYCHOLOGY
Yesterday...
In trading, we don't talk about certainties, because they simply don't exist. If anyone claims otherwise, then it's better to ignore their advice and move on.
Is this the bottom? Probably not. Should we, as traders wanting to make money on Bitcoin's moves short right away without understanding the underlying market conditions first? No! We are not gambling, we...
