The Bit Short - Daily Update on Bitcoin 14 July 2018
Hey guys,
I believe Bitcoin is in a do or die position right now.
I would be laddering in long positions from 6,100 all the way down to 6,000 with stop loss for all laddered position at 5,750.
Firmly believe that breaching 5,750 will indicate that the price level will drop to at least 5,200 and even down to 4,800. A reversal for a bull run should be expected if we go that low.
Having said that, if we bounce from the current 6,200 level, we should closely watch the price action to see what the next move is.
Thanks for your analysis.
Bitcoin is always in is in a do or die position :)
I tend to see things more positively, meaning: the weekly indicators seem to support a 'bounce' scenario upwards from here, but if supports break, your $4,200 could come in reach. But the sellers seem fatigued/out of coins and the Hodlers just continue to HODL.
I anticipate a moderate rally into August 2018 (if only sideways). After that, who knows?