Bitcoin was a good short during 2018 and kudos to everybody who managed to make massive profits. I no longer hold interest into playing BTC as the interest in the market is much lower and liquidity is almost non-existant, also the levels to short were above 10k and later in anticipation of breaking below 6k. It is no longer interesting.
The trend can continue for a little while longer until 4400$ print is on the charts (BITSTAMP) . A few daily closes(3-4) above can raise a few eyebrows and I will actually start looking for structure to the upside.
Until then though the down-trend is still in place.
Bitcoin is again approaching the top of its channel and the probability is down again. TRIFRACT expects that the floor of the trend will be a little big higher this time with previous resistance most probably turning into support in the 2k area depending on when it is hit.
The trend can continue for a little while longer until 4400$ print is on the charts (BITSTAMP) . A few daily closes(3-4) above can raise a few eyebrows and I will actually start looking for structure to the upside.
Until then though the down-trend is still in place.
Bitcoin is again approaching the top of its channel and the probability is down again. TRIFRACT expects that the floor of the trend will be a little big higher this time with previous resistance most probably turning into support in the 2k area depending on when it is hit.
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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.