Target $2,500

Target $2,500

Bearish arguments:

• Bearish trend
  
• A lot of short positions have been flushed recently without short squeeze effect
  
• US Shutdown negatively impacts the ETF decision. I expect a rejection between Feb. 23rd after the last trade of the CME futures and Feb. 27th the ultimate deadline

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Bear flag

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Erratum: that was a pennant

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Yesterday CBOE withdrawn its proposal for a Bitcoin ETF without generating any significant sell off. The bear market may have ended.

I'm neutral now.

We'll probably see a second test of the Weekly MA200 but I am much less bearish than initially.