R.ACEACEACE #BITCOIN #BTC #BTCUSD BEAR MARKET $20,000 - $6,000

I believe the top for Bitcoin is in and a bear market has begun. I don't think it will be a long bear market as we saw after the 2017 all time high.

I believe it is likely that the market will dump and then continue to a new all time high this year.

Resistance: $42,000

Support: $20,000, $6000

I will admit that I saw signs of bearishness earlier but gave the bulls a chance. Unfortunately, they could not come thru with a push.

I traded the entire run up and you have seen it in my published ideas page. It was an incredible experience with incredible profits.

I have already sold all of my crypto and intend to buy again at the end of the correction.

I will trade the lower timeframes and post updates when I can.

On the lower timeframe, I will take short scalps all the way down to $20,000 support. If the price does not maintain support at $20,000 on the larger timeframe, I will continue to scalp short trades on the lower timeframe down to $6000.

It's the same old song. Some people never learn.

Invalidation: if the price moves to a new all time high above $42,000, this trade idea will be invalid.

Please do your own analysis, responsibly manage your risk, and stay safe.

THANKS FOR HITTING THE LIKE BUTTON!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Kommentera:

The price will likely dip down to near $30,000 and could make a bounce up to around $37,000. Do not get trapped in the wrong position. The current price is not a good place to open a swing short trade, in my opinion.

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PRICE LIKELY TO RETEST $37000 REGION

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Expecting the price to continue chopping over the weekend and for the downtrend to continue on Monday. I will be flat until Monday and will avoid longs on the lower t.f

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Please see updated idea

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Please see updated idea for ETH

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I believe that the Bitcoin price will very soon head down to $28,000 on the lower timeframe. Please see my most recent update for the lower t.f.

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I believe Bitcoin may retest $37k. Please see latest long trade idea.