As we all know, the BTC has suffered a beating in recent weeks. Many have different theories about why the market dropped so much, but here, with technical analysis, the reason is very clear ...
At the end of 2015, BTC had a large increase in volume and created a bull pivot as well as an MA cross. This ignited the bull race
BTC in the last weeks has done the opposite when starting the real bear market, at this moment the chances of reversal are very small. If Bitcoin fails to maintain this price range of 3300-3400 regions, you may see another. The big drop almost makes it impossible to reverse this. ** We will keep our short position open, we see no reason to prolong the time at this moment **.some where around 3000-2800$
I suppose that this bear market will last a while.
tell me your ideas about it.
To minimize losses and to avoid a bear trap you should set your stop loss at 3549 and re enter at the 3100.
