Why a Historically Accurate Analyst Thinks It’s Unwise to Short Bitcoin Now

5f559e44be535

Bitcoin has crashed 20% in the past four days as bears have finally begun to sell the cryptocurrency after a notable rally. BTC now trades for $10,300 after hitting a local low of $9,800. Analysts remain optimistic about BTC’s prospects. One historically accurate trader says that right now isn’t the time to be bearish or short Bitcoin. He cites BTC’s macro chart, which suggests that the coin is sitting on a notable level of support. Bitcoin Remains Bullish, Don’t Look For Shorts Now: Analyst Bitcoin remains bullish on a macro time frame according to the trader that predicted BTC would hit the $3,000s in 2020 months in advance. He shared this chart below on September 6th, writing that BTC remains in a good state: “We are currently testing a key level as support (S/R flip). It was ok to be bearish at 12k, but not now. Bullish and bearish scenarios…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE