Mihai_Iacob

Bitcoin and my "problem" with selling at 40k

BITSTAMP:BTCUSD   Bitcoin
I'm bearish Bitcoin and the crypto market and, to be honest, I don't expect a new ATH this year.
However, the more I look at the chart the more my confidence in selling at 40k decreases
And I have 2 issues with selling the 40k scenario:
1. Bitcoin has dropped more than 50% from top to bottom contained in a channel. And as I have a " problem" with rising channels, and expect a reversal, the same I have with descending channels
2. And more important, all speculators want to sell that resistance and a stop hunting above 40-41k becomes very probable

So, if the price goes there, I expect continuation to at least 45-46k, not a reversal.
Time will tell, but if Btc goes above 40k I will become bullish for the above reasons.

Good luck!
Mihai Iacob


🚀 Elevate your trades with a 20-year market veteran!

📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals

💎 Crypto Channel:
t.me/FanCryptocurrency

🌟 Premium Contact:
t.me/IacobMihai
Aviso legal

As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.