BitcoinShort
Bearish Scenario for BTC in 2021
A bearish butterfly is about to form. D needs to be higher than X though so I assume that we will visit the 1.618 (extended golden fib)to make the D and then start a trend reversal.
It would also be confirmed if there is a ABC correction playing out, starting from the ATH back then with the low of 3k (wave A) and the long move back up to ATH levels (including the Covid crash, extended wave B). Wave C of the ABC would follow after we hit D.
My move is long till 21-21,5k (longed 16,3k already), then short 21-21,5k with high leverage (don't do this yourself btw).
The lowest possible target would be around 5k if BTC breaks market structure (sub 12k).
It would also be confirmed if there is a ABC correction playing out, starting from the ATH back then with the low of 3k (wave A) and the long move back up to ATH levels (including the Covid crash, extended wave B). Wave C of the ABC would follow after we hit D.
My move is long till 21-21,5k (longed 16,3k already), then short 21-21,5k with high leverage (don't do this yourself btw).
The lowest possible target would be around 5k if BTC breaks market structure (sub 12k).
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