Everyone is way too confident that we are going to go up. Reminds of the last time when everyone was sure that the price is gonna go down and we had a ton of shorts liquidated.
This is my short target and also where I plan to buy the dip. This is obviously valid for this week only. If we will not hit the 3k target this week, we should go even lower.
This is just an attempt to overlay DGB/USD trajectory onto BTC/USD. The theory is that crappy assets decay faster and therefore can be used for the future projections of better assets that are lagging in time.
BTC formed a symmetrical triangle over the last couple of months and two weeks ago broke downwards. Right now it is hovering around the 9k resistance (around the break out point). This makes a great point of entry for a short.
I think this is a safe point to enter a short, BTC has broken a symetrical triangle a week ago and now it is hovering just below it. If it re-enters -- close the short (small loss), otherwise we are looking into a 4000-4700 EUR target.
