Potential Bitcoin Short

Bitcoin Talk and Cryptocurrencies
1

I am looking to short BTCUSD around the 7940-8000 area.

There are multiple confluences in this area - a very strong, untested supply zone, 78.6% fib and the 8000 psychological number. Should this area not work, the next zone I would look to short is the 9145 area.

My view on Crypto is bearish until the next BTC halving (this should make Crypto bullish I would imagine, as it has done in the past).

I am not ruling out another drop to the 4500 area - as I don’t think we should rule anything out in these crazy market conditions.

Let me know what you think below! Thanks.

BTCUSD Short
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1 Like
2

It’s looking strong for the 78.6 fib level right now but who knows at that point with the halving around the corner it could shoot straight through or reverse.

3

Yep, I can see it falling a bit after touching $8k

4

Do you ever look at weekly volume? Might be some more evidence to support your short.

Namely, rising prices and lower weekly volume since March.crash.

5

Watch US equities. Bitcoin remains correlated to stocks.

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6

Hope you didn`t done it.