Bitcoin / TetherUSShort
BTC/USDT is testing the "2020 HIGH" as support.
Bitcoin has tested the high of 2020 as support for the third time in the past 3 months.
I know that many of you guys already know it but for the ones that don't, Bitcoin have never tested the high of 2017 (19K - 20K) as support, the price just went straight "to the moon", and that's why you always hear people on the internet saying that Bitcoin is going to 20K.
That's one of the reasons why I believe that Bitcoin will test the 19K - 20K zone and another reason is that Bitcoin doesn't seems to like the
29K area, the 200 EMA is still pointing down, and at this moment we have a lot more sellers than buyers.
Buy and Hold:
If you are a true believer of Bitcoin and wants to buy and hold some of it I believe that the zone between 19K - 24K is a good area to buy and hold.
Trade (Short):
On a trader perspective I would wait Bitcoin to break the "2020 support" and wait for a confirmation then I would wait for a pullback and then I would Short it (if the EMAs are still pointing down as well), but that could be a really risky trade because we have a lot of buying orders for Bitcoin on the 28K area, so do your own research and trade at your own risk.
________________________
Disclaimer:
None of what was shared here or in my profile in general constitute as financial advice, the purpose of this post is only to discuss ideas.
REMEMBER TO ALWAYS DO YOUR OWN RESEARCH.
I know that many of you guys already know it but for the ones that don't, Bitcoin have never tested the high of 2017 (19K - 20K) as support, the price just went straight "to the moon", and that's why you always hear people on the internet saying that Bitcoin is going to 20K.
That's one of the reasons why I believe that Bitcoin will test the 19K - 20K zone and another reason is that Bitcoin doesn't seems to like the
29K area, the 200 EMA is still pointing down, and at this moment we have a lot more sellers than buyers.Buy and Hold:
If you are a true believer of Bitcoin and wants to buy and hold some of it I believe that the zone between 19K - 24K is a good area to buy and hold.
Trade (Short):
On a trader perspective I would wait Bitcoin to break the "2020 support" and wait for a confirmation then I would wait for a pullback and then I would Short it (if the EMAs are still pointing down as well), but that could be a really risky trade because we have a lot of buying orders for Bitcoin on the 28K area, so do your own research and trade at your own risk.
________________________
Disclaimer:
None of what was shared here or in my profile in general constitute as financial advice, the purpose of this post is only to discuss ideas.
REMEMBER TO ALWAYS DO YOUR OWN RESEARCH.
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.