BitcoinShort
BTC to dwindle lower in short term before going to the moon?
Hi guys, there is the fact that BTC still stuck on an long term corrective period so at the moment we can't expect any significant recover in BTC price. However, please bear in mind that Sharks and Whales can enter the market anytime they want, so stoploss is always essential for successful trading.
As my opinion, you can see in the chart, BTC price is following a huge symmetric triangle pattern, so it's on the way to finish the last wave. I personally expect the price will bounce back at around 6800 - 6600, may be earlier ~7000$ (round number effect), and then the short opportunities will appear when price touching 8600 - 8800$ zone.
In contrast, if price bounces back and breaks the highlighted trend line, you can consider to entrance long, as price can climb to last swing highs - 10000$ or 11500$.
I'm still very bullish but if there is any spike in volume and price sinks below 6500$, nothing will stop BTC to return to 5500$ zone once again.
Safe trading guys!
Tung Nguyen
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