Bitcoin is still facing a larger correction, as I pointed out in a previous chart, since the price dropped below $616 to $608.
Either the BTC price will move down to 595-600 US Dollar as only a quick pullback. Or we will see a medium size test of the last 550-585 US Dollar bottom area and then we will stay above this price level this year.
Worst case there is going to be a double top pattern and the price makes a very large correction down to about 495 US Dollar, before the overall very strong uptrend is resuming with full force.
Stop loss for the short is around 625 US Dollar to 635 US Dollar depending on your risk taking.
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"Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment."
- Buddha
Either the BTC price will move down to 595-600 US Dollar as only a quick pullback. Or we will see a medium size test of the last 550-585 US Dollar bottom area and then we will stay above this price level this year.
Worst case there is going to be a double top pattern and the price makes a very large correction down to about 495 US Dollar, before the overall very strong uptrend is resuming with full force.
Stop loss for the short is around 625 US Dollar to 635 US Dollar depending on your risk taking.
----
"Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment."
- Buddha
