DefineRisk

BTC Price Analysis: Push to $4300? Or is the party over?

BITMEX:XBTUSD.P   Bitcoin
Looking at the BTC chart I see potential for another leg up, pushing $4300 (perhaps falling up to $50 shy). However I see the value in the short side as regardless of a push to $4300, I see a subsequent drop to below $3600. This is NOT cause for concern as it would be a typical move. I personally do not believe the bottom is in yet, but the bottom may not be realized for several months still.

How I am approaching this chart:

Short above $4200 and long below $3600

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