Are you kidding? There is NO possible way BTC will go to 3k! If that were going to happen it would have happened during the covid19 flash crash at 4.5k.
That FUD is over and theres not any worse news in the immediate future. You saying BTC could go to 3k is based on you drawing lines lets face it, thats all it is!
Topic: Crucial month ahead: Bitcoin goes to 20k or 3k range - page 2. (Read 381 times)
Buying right now at 9.2k is gambling. Again my opinion. And by the way this week's rally is very similar to what we saw in February when Bitcoin price rallied from 9k to 10.5k. Hmmm...
Best of luck!
It is a gamble and as you can see within just few hours, bitcoin plummet again.Best of luck!
If somebody bought from the range of $9.2k - $9.4k then they have lost with the correction that the market is showing. I know it's hard to accept that there's this analysis that bitcoin is still open for that possibility that it can go as low as $3k or even worse than that.
The month of March just proved that when it plummet under $5k.
Downtrend still intact until Bitcoin price breaks above 9.5kish and most importantly 10.5k to create a higher high compared to previous high (10.5k in October 2019 and February 2020).
Higher lows, lower highs. It's a contracting range, not so much a downtrend. I could see something like this playing out:
Buying right now at 9.2k is gambling.
I would definitely agree with that. There was good risk/reward in the $7,000s but here? Not so much. I closed my longs and I'm on the sidelines waiting for a good setup.
Downtrend still intact until Bitcoin price breaks above 9.5kish and most importantly 10.5k to create a higher high compared to previous high (10.5k in October 2019 and February 2020).
Simple strategy here: short the market and set a stop loss at 10.7k, take profit at 3.5k. That's a nice "risk vs. reward" strategy.
Or... wait until end of May to see if Bitcoin price breaks the downtrend above 9.5k, then 10.5k and decide accordingly. My opinion is if we see a price above 10.5k this year, 20k will be very quickly reached. However, if we are rejected again, we might see a lower low compared to previous low (3.7k), which means 3k area, maybe even below.
Buying right now at 9.2k is gambling. Again my opinion. And by the way this week's rally is very similar to what we saw in February when Bitcoin price rallied from 9k to 10.5k. Hmmm...
Best of luck!
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