(I marked this as a Short investment strategy, but it is really Neutral, but leaning Short. It all depends on what happens near current level)
I know many are talking about 13000$-13500$ level, but I really believe it could dip as low as 7500$ based on weekly fibonacci pivot points (which I cant find on Tradingview chart). if the bulls cannot defend this 233ma, I believe that's where we're headed. And as you can see at the time of writing this, the price is exactly on the 233ma and it is the crossroad moment for me.
I believe the price will look to liquidated leveraged longs from lower and dive deep as bulls try to time the bottom at 16k and at 13k where temporary bottoms can be created to attract more buyers to liquidate.
That being said, if I see a bounce here, I might exercise the buy option.
I know many are talking about 13000$-13500$ level, but I really believe it could dip as low as 7500$ based on weekly fibonacci pivot points (which I cant find on Tradingview chart). if the bulls cannot defend this 233ma, I believe that's where we're headed. And as you can see at the time of writing this, the price is exactly on the 233ma and it is the crossroad moment for me.
I believe the price will look to liquidated leveraged longs from lower and dive deep as bulls try to time the bottom at 16k and at 13k where temporary bottoms can be created to attract more buyers to liquidate.
That being said, if I see a bounce here, I might exercise the buy option.
