JackDu

BTC Rebounded, But Don't Celebrate Too Soon!

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COINBASE:BTCUSD   Bitcoin/Dólar Americano
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As I said in my previous post, we're still in a Bull Market, as we can see during yesterday's rebound, it showed a strong buying power. However, too many parts were trapped on the big top. This bull market can become a bear market if BTC break the supports.
When I trade, I consider both the upside potential and downside potential. Now, this market is still strong, however, there is not much room for BTC to going up on a short-term, as there are so many trapped parts waiting on the top to be sold. The selling power beyond 12500 is even stronger than the buying power. On contrary, I think BTC still have much room for the downside. That is why I don't feel so good about this market.
In the next few days, BTC might just play with 10000~11000, but I see the possible lower price target around 7000~8000, maybe this month, maybe next month. So just be cautious.
This is my personal opinion, not a recommendation of buy or sell!
Comentário: I told you, bears is taking over.
Comentário: Target Hit, Position Closed

Comentários

Very strong point of view, thanks mate
Following your idea ! Hope bear market is not for now, but one day it has to come back. Forever bullish is in kid's dream only...
Resposta
JackDu CryptoJulio
@CryptoJulio, Thank you for the comment! Always be ready for any possibility, a coming bear market is still possible. But don't worry, market always has its last word :-)
Resposta
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