HinglishInvestor

End of the momentum for BTCUSD - IT'S CORRECTION TIME!

Short
HinglishInvestor Updated   
BITSTAMP:BTCUSD   Bitcoin
Expecting the end of this upward move. I have a 5% margin of safety under the last ATH, as I believe this to be the point that will trigger fund managers to wait for a correction.

Correction expected to be 25-40%, with a higher chance of it being 30% based on previous bull cycle.

I would not short bitcoin, ever, so this will solely be a waiting game - in the meantime revel in ETH's move upward or take a break from this intense month!

Good luck!
Trade active:
21 EMA likely to be a target as it hasn't visited since September, and 21 EMA was a great support in the last bull market.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.