Bitcoin could suffer a big overcorrection from its massive price increase in late 2017. If this trend continues Bitcoin will hit as low as 5000 dollars by the end of February. Short seems like a good option. Stop loss at 10,000 USD or lower advised. (dependent on date)
Disclaimer: This is no investment advise and I am not accountable for any consequences based on actions you may or may not have taken upon this analysis.
I really don't think shorting here is a good idea.
The time to go bear was weeks ago. Now everything is horribly bearish it's too late. Buy volume is increasing and demand even only a couple of hundred dollars down is much greater. Japanese market looking significantly stronger than western markets and they have more volume.
IMHO this can only continue a couple of days more max, let alone end of February.
WilcoBakker
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@BRRD, If you look at the graph, obviously the time to short left is way shorter than the time to short passed. Still think it'll drop to 5,000 USD but as that is a point of heavy support, it'll not go further down than that, as of that moment, Bitcoin will most likely stabilize to 11,000 USD during the month of March. I have added this in my newest post. (An more detailed version of this one, basically.)
The time to go bear was weeks ago. Now everything is horribly bearish it's too late. Buy volume is increasing and demand even only a couple of hundred dollars down is much greater. Japanese market looking significantly stronger than western markets and they have more volume.
IMHO this can only continue a couple of days more max, let alone end of February.