Short BTC
After Bitcoin retraced nearly 19% from its recent highs, I believe it hasn’t yet reached the average cycle correction of around 22%, which could take the price down to about $57,500. In a more bearish scenario, the correction could deepen to 25%, or even extend toward $50,000.
Factoring in U.S. Federal Reserve interest rate cuts, will drive short-term volatility, it is likely that it will lead to market downturns before any stable recovery. Even if BTC does put higher and reach near $65,000,the short term upside would be capped as major selling pressure is likely to appear there. This makes the $60,500 level a reasonable point to short with a target of
around $59,000 at the 200EMA.
Factoring in U.S. Federal Reserve interest rate cuts, will drive short-term volatility, it is likely that it will lead to market downturns before any stable recovery. Even if BTC does put higher and reach near $65,000,the short term upside would be capped as major selling pressure is likely to appear there. This makes the $60,500 level a reasonable point to short with a target of
around $59,000 at the 200EMA.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.