I’ve always thought Bitcoin was going to fall—not based on guesswork. I was at my computer right on time at 6 today to keep analyzing. It’s not because I opened a short at 80.5k that I want the price to drop; I shorted because I judged that it was going to fall.
Let’s look at the weekly chart. It hasn’t fallen nearly far enough yet, and there’s still room to go lower. But the battle between bulls and bears around 80k is intense, so the price is ranging here. You can short around 81k and go long around 79.5k, trading back and forth.
The Fed isn’t expected to raise rates on Thursday. If things go as expected, we’ll see which direction the market makers choose to liquidate traders. I think the most likely scenario is a rally to 82k–83k, followed by a drop to around 76k, so I’ve prepared in advance.
$BTC
Let’s look at the weekly chart. It hasn’t fallen nearly far enough yet, and there’s still room to go lower. But the battle between bulls and bears around 80k is intense, so the price is ranging here. You can short around 81k and go long around 79.5k, trading back and forth.
The Fed isn’t expected to raise rates on Thursday. If things go as expected, we’ll see which direction the market makers choose to liquidate traders. I think the most likely scenario is a rally to 82k–83k, followed by a drop to around 76k, so I’ve prepared in advance.
$BTC
