- I never talk with empty words, and in this analysis I will give you the main reason why bitcoin could crash to 15k – 10k in the next few months.
- No one talks about this trendline from 2013, so it’s a big deal. The trendline is already broken, and the bulls retested it a couple weeks ago. It’s a classic retest. Usually, you want to wait for the retest and then short it.
- I want to tell you that this trendline is parabolic, and if it is reclaimed and followed, then theoretically, the price of Bitcoin will be around 5 000 000 dollars in 2030. This is unlikely.
- This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
- What’s more, the 200-week moving average has been broken for the first time (a negative sign).
- We still need to wait almost a year for this halving event. Meanwhile, we could experience a huge flash crash to liquidate high-leverage traders with a strong and steep rebound back to 32k. Bitcoin is very volatile, and a 50% or 80% crash is nothing.
- January 2024 could be the bottom for Bitcoin.
- Shorting Bitcoin is pretty good because it provides a very good risk-to-reward ratio compared to other altcoins on the weekly chart. It’s because your profit on shorts practically cannot be more than 99.99% compared to your profit on longs, where your profit is unlimited. Your stop loss on BTC short could be, for example, 5% and on altcoins, 20%, with the same trade setup and same strategy, so it improves your risk-to-reward ratio on Bitcoin shorts.
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- https://www.tradingview.com/chart/BTCUSD/J9GzJxej-Bitcoin-Secret-trendline-from-2013-is-breaking-down-unreal/
