So far the price is following my expectations, and currently sits exactly at $3700 level, whitch is a quite strong resistance (previous support levels + 50 SMA).
But I am still not quite comfortable with opening a short position here. There is a high chance that BTC will push through eventually. It is not a time to be extra bullish either (no need to close already opened long positions though).
This is the time when you have to sit and wait. My view is, that BTC will meet the second resistance, $4000 - $4100 levels together with 100 SMA, if the first resistance breaks. But only time will tell.
Previous analysis:
But I am still not quite comfortable with opening a short position here. There is a high chance that BTC will push through eventually. It is not a time to be extra bullish either (no need to close already opened long positions though).
This is the time when you have to sit and wait. My view is, that BTC will meet the second resistance, $4000 - $4100 levels together with 100 SMA, if the first resistance breaks. But only time will tell.
Previous analysis:
