Shall Bitcoin go up or go down?
Here are the facts on 4-hours-time frame:
• Bitcoin is approaching the and 12k ;
• On Wavetrend Oscilator, Bitcoin is at overbought area and approaching extreme over bought level of 80;
Also On Bitfinex, 10,500 shorts versus 27200 longs – about 1:2.7 ratio;
If price brakes 12k and the , and keep holding up at this level, then we finally confirm a bull market.
If price bounces back at 12k and , this confirms the bear market still hold on and dangerous.
If there is no more negative crypto currency news within the next week or two, there is a very high chance of bulls charging upward to 14k .
If there is more bad news about crypto currency news, bears may come out in full force pulling Bitcoin down ward from 12k level to 10k and may breaks 10k if bulls are terrify and scatter.
Tighten stops to book in profits when price reaching near 12k or breaking 12k. And get ready for the bulls run to 14k .
Get ready and open shorts near 12k or when price brakes 12k with tight stop loss orders.
Happy to hear your thoughts and comments;
Wishing everyone trading/investing well.
Note: This is educational trading idea only, not trading advice.