Greetings friends
Bitcoin is already at the culmination of its distribution (sales) process.
The last retest at the top almost at USD 12,500 was positive, that is, there are traders positioned short above this level.
The previous operation shows that every time the retest came out positive the price should continue to rise.
The collapse from this price level at USD 12,500 shows the presence of the professional hand indicating the direction of the price which is in this case in decline, probably with the intention of liquidating the longs positioned at lower levels.
Consider that the price once it stops should be just a bounce, therefore I consider trading short.
The red dotted lines should be short entry level which would be the liquidation of the positions x100 x50 x25.
The green level should be considered as a "bounce", that is, there is a high probability that Bitcoin will continue to decline once this rebound has ended.
Since I have been holding Bitcoin, it would not exceed USD 13,000, USD 15,000 or USD 20,000 for "now."
Order Flow allows you to identify in the time period of 1 day when the downward movement has culminated and therefore to be able to position yourself long with great precision. This could give us a clue if Bitcoin would reach the price levels indicated above.
Below are all my links that can be of great help to you.
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