Bitcoin (BTCUSD) Trend based on Fractal
For the same fractal previously my analysis went wrong, because this wasn't a perfect match. But the current chart shows perfect matching of fractal from the month of May- July matching with mid Nov -present.
I my previous post I also mentioned that BTC is bullish so their is a possibility of failure of analysis and that actually happened.
In the current condition also such possibility exits but to lighter side.
Since BTC has crossed it's ATH so their is a lot possibility that most big,smart investors had sold their coins. which decreases the chances of increase in price. Also in previous bull run of 2014 to 2018 around ATH of 2014 BTC had a huge correction.
So considering all the above factors I believe opening short positions are safer than long positions. Also booking some profits and waiting for good buy around support levels is better.
I my previous post I also mentioned that BTC is bullish so their is a possibility of failure of analysis and that actually happened.
In the current condition also such possibility exits but to lighter side.
Since BTC has crossed it's ATH so their is a lot possibility that most big,smart investors had sold their coins. which decreases the chances of increase in price. Also in previous bull run of 2014 to 2018 around ATH of 2014 BTC had a huge correction.
So considering all the above factors I believe opening short positions are safer than long positions. Also booking some profits and waiting for good buy around support levels is better.
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