Bitcoin’s (BTC) price volatility can offer both long and short opportunities for traders speculating on different time frames. However, an analyst navigated through the BTC price chart, explaining why shorting Bitcoin is not a good idea right now.
In a video uploaded on October 18, CrypNuevo first analyzed Bitcoin in a high (HTF) and low (LTF) time frame. While the LTF is more volatile and could offer some short opportunities for day traders and scalpers, he suggested swing traders avoid opening shorts, as indicators suggest BTC will continue going up.
The analyst also looked at the Bitcoin Dominance Index (BTC.D), marking a 59% dominance by the recording time. We can see Bitcoin was trading at around $68,800 as the video was running.
Do not short Bitcoin in a high time frame
Looking at the weekly and daily price charts, the analyst explained BTC is in an HTF bull market. In particular, CrypNuevo pointed out to the 50-week exponential moving average (1W 50EMA) as a lea
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