Long Term Still Short on Bitcoin to 2,000
We are approaching a key level on BITCOIN.
What we are learning is that we are taking almost twice as long and expending more buying effort to reach the $10,000 price point versus last time.
We are showing extreme extended coniditions to do so.
My bias is bearish unless price breaks above $10.300 and starts to show strong price action forming new support.
My expectation is for price to break this upwards channel and make its first move down about 25-30% hair cut.
Around the $7,000 range. I will be taking some short positions on this trade and will update when trade is active.
What we are learning is that we are taking almost twice as long and expending more buying effort to reach the $10,000 price point versus last time.
We are showing extreme extended coniditions to do so.
My bias is bearish unless price breaks above $10.300 and starts to show strong price action forming new support.
My expectation is for price to break this upwards channel and make its first move down about 25-30% hair cut.
Around the $7,000 range. I will be taking some short positions on this trade and will update when trade is active.
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