The Best Place to Short Bitcoin is Above $14K, Analyst Explains Why

2020 10 23 12.47.49 980x522

Bitcoin bulls will enjoy domination over the market until its price breaches the $14,000-mark, according to Eugene Loza of EXCAVO. The independent market analyst wrote in his note to investors that he expects to see traders with more exposure in Long trades than the Short ones. He signified his prediction with a technical structure. It envisioned BTC/USD inside an Ascending Channel pattern, inching upward as it awaits to test a sequence of Fibonacci resistance and support levels. Bitcoin trade setup, as presented by Eugene Loza. Source: BTCUSD on TradingView.com The smaller Fibonacci retracement graph in the chart above expired at $12,283 after Bitcoin breached the level on Wednesday. Simultaneously, the cryptocurrency closed in towards the 61.8% level – at $13,037 – of the bigger Fib setup, awaiting a breakout move to the upside. An $11K Bitcoin Possible Mr. Loza supported the outlook of an extended bullish move, noting that $13,037…

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