BTC is now at a quite tricky position. It is near the edge of uptrend as we can see from the chart.
As long as BTC is above the uptrend, DON'T SHORT as the momentum will continue.
However, by breaking the uptrend, BTC is very likely to go to 9303.
If 9303 cannot support, we will see a classic double top, which means BTC can go to as low as 8600.
In short, SHORT when BTC breaks the uptrend, with target 9303 (hope it will further take us to 8600)
I was a bit busy this weekend so that didn't have time to write about the MID-LONG term view of BTC.
In a nutshell, BTC will stay at a range from 8561 to 10084 for a while until it decides the next direction.
As long as BTC is above the uptrend, DON'T SHORT as the momentum will continue.
However, by breaking the uptrend, BTC is very likely to go to 9303.
If 9303 cannot support, we will see a classic double top, which means BTC can go to as low as 8600.
In short, SHORT when BTC breaks the uptrend, with target 9303 (hope it will further take us to 8600)
I was a bit busy this weekend so that didn't have time to write about the MID-LONG term view of BTC.
In a nutshell, BTC will stay at a range from 8561 to 10084 for a while until it decides the next direction.