Swing trading BItcoin? You should wait until after 8th of March!

We have strong trend lines to guide our decision. Bitcoin is in a bear market, and there is no evidence for the market to turn. My reason for keeping out of the market is the risk-reward ratio. We might see Bitcoin reaching 12K, but 4K is equally possible.

Google Trends is scientifically proven to be a good indicator where the price will move; if the search term is subject to finance. Bitcoin is experiencing big loss of daily search points, so we can confidently say the price will too.

评论:

There is definetly more confidence in the market than before, but I have doubts it will break the trend line. It's strong and steep; a dangerous combo.

I still advice to wait after 8th of March. Then analyze the 4 hour chart and make a sound judgement.

UNLESS: Volatility goes down, volume keeps rising futher and Google Trends shows an uprise.