Post
Topic
Board Speculation
Re: 20K by March, A positive Look at the market.
by
exstasie
on 10/10/2019, 22:58:19 UTC
I'm glad to see you came around to the bull side. You seemed really bearish a week ago.

I have been always on the bull side as far as the large picture is concerned, in fact I have more interest towards price going up, I just like to keep a neutral look when comes to day trading, my last week bearish look is still there, the current/short term is in fact still bearish, we are still trading below the 20SMA on the weekly and we had a the 5SMA crossing below it as well, which means 8900$ (5sma) and 9900$ (20SMA) are not bad positions for shorting at all, but given the fact that the overall picture is somehow bullish, any short position must be done very conservatively.

From the look of those arrows you've already called the bottom, no? That's what I meant.

Conventional traders would short the $9,000s but I'm done shorting myself. The easy gains are already done. Given the sentiment and bearish positions accumulated over the past couple weeks, it's possible BTC just slices right through these "expected" resistances with no major dips and breaks out with authority. July 2013 is my closest model so far, and in that case there really was no major dip until the Silk Road crash in October.