Most people still think, being short in BTC isn't right ATM. Well, its not that wrong, if you look at the monthly chart, wich is often forgotten by most of them LONG theories. The reason why I think it's not wrong is because BTC is next to the highest double top of RSI at 97. ATM, BTC is at around 95. Bringing this together we should come to the point that the correction last week wasn't the whole correction. If BTC hits again 97 RSI, there COULD be a huge correction like last time in 2013/2014 when it lost nearly 70%. If we also gonna lose 70% right now, we could hit exactly FIB 0.236(4680.33).
What is often forgotten is that for a professional trader its not about being right with his expectations. Its about managing your risk, so you should always take every option into account!
What is often forgotten is that for a professional trader its not about being right with his expectations. Its about managing your risk, so you should always take every option into account!