Very simple analysis using a wedge.
As I see it, Bitcoin has two options - either it jumps back to the 4000 area, maybe even providing a small breakout (and a new shorting opportunity) or closes below the bottom of the triangle and making a bigger drop.
As I see it, be patient before shorting it - short limit at around 3700 or 3980-4050 area.
Closing over 4050, near 4100 is a bullish sign and the wedge is invalidated - set your stops.
Use low margin in volatile markets, otherwise you will commit financial sudoku with few hundred USD moves in BTC like I did few times before I learned.
As I see it, Bitcoin has two options - either it jumps back to the 4000 area, maybe even providing a small breakout (and a new shorting opportunity) or closes below the bottom of the triangle and making a bigger drop.
As I see it, be patient before shorting it - short limit at around 3700 or 3980-4050 area.
Closing over 4050, near 4100 is a bullish sign and the wedge is invalidated - set your stops.
Use low margin in volatile markets, otherwise you will commit financial sudoku with few hundred USD moves in BTC like I did few times before I learned.
Seems like the magneta line is not being broken by bulls as of yet - we have a strong resistance as of now.