Something to keep in mind: We are right up against the longest-term trend line (going back to 2011), which has never broken. If history is to repeat itself then this bear market will be over within two months and BTC will start making higher lows.
However, my gut feeling is still bearish in the short- & mid-term. Events that have never happened before should not be treated as impossible, and this trend line could break.
I am holding a conservative amount of bitcoin and small amounts of major altcoins, with an open short position on BTC on bitmex to hedge against further downside.
However, my gut feeling is still bearish in the short- & mid-term. Events that have never happened before should not be treated as impossible, and this trend line could break.
I am holding a conservative amount of bitcoin and small amounts of major altcoins, with an open short position on BTC on bitmex to hedge against further downside.
Note
Monthly needs to recover and close above $6,300 for this trend line to hold. Two weeks to go.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.