The market seems to be experiencing a flood of new investors mostly "Get rich fast" kind of people.
I think we are about to begin a downtrend or at least sideways trend for the upcoming months, Set to begin in 2017, August.
Toping around 2000$ in the end of march.
If this goes above 2100, then we have fib extensions at 2565$ and 2923 for possible tops.
Shorting bitcoin with all this irrational buying is dangerous, but if you must then stop loss should be put around 2020-2040$. Above this price with much force will invalidate the short intended here..
Any questions or inquiry please comment below.
Be safe.
I think we are about to begin a downtrend or at least sideways trend for the upcoming months, Set to begin in 2017, August.
Toping around 2000$ in the end of march.
If this goes above 2100, then we have fib extensions at 2565$ and 2923 for possible tops.
Shorting bitcoin with all this irrational buying is dangerous, but if you must then stop loss should be put around 2020-2040$. Above this price with much force will invalidate the short intended here..
Any questions or inquiry please comment below.
Be safe.
