In January we published trading idea where we explained that Bitcoin has a chance to pump towards 28k-30k which is yearly resistance:
As the price is doing exactly what we expected, dips are still for buying, we believe that Bitcoin will retest this yearly resistance soon.
Now it's time to plan the SHORT position. On the chart you can see 2 probable paths for the price. 30k $ is the area where we should see a lot of selling pressure and we believe that it will be a great entry for a swing short position! Final target for this short position would be the retest of the previous bottom. In this case we would get a higher low or double bottom which would be bullish for a continuation of the bull market which we believe that has already started!
What do you think? Do you agree with us? Leave your comment please :)
Quite instructive and useful publication. Thanks for the good work!
Tolberti
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Keep up the good job, I like your idea!
basictradingtv
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Could absolutely work out, thanks!
averkie_skila
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I believe it is unclear whether it will be a double bottom or going into the 13-10K range. But surely a bounce should now be expected from the 29K area, I agree.
vf_investment
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@averkie_skila, 10k is unlikely imo (For a time being). but let's see what's gonna happen . Let's get this crypto!
averkie_skila
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@vf_investment, It usually does this before the growth cycle.