This week Precious Metals Trader GoldTraderAsia published its Dec 2019 report – and BitcoinVN News was able to share an exclusive look into his comments about the Bitcoin Market heading into 2020.
As I mentioned here…
…this is not a bullish chart.
Clear downtrend since summer and I won’t deploy any significant capital before the 6k USD area [chart above shows EURBTC!] which has been a strong resistance/battle ground for months in 2018.
I currently do not anticipate any lasting break below 6k USD; if so… – the market structure significantly worsens and Bitcoin might take much longer to climb to new highs than “expected”.
As I also said: I do *not* think it is a smart idea to short Bitcoin at these levels; the r/r is not looking great anymore after we have come down already a fair bit from the high in summer 2019. You might still be able to squeeze something out of the market, but uuuh… – dangerous game.
The full report covering Precious Metals, Stock Markets and Forex can be downloaded here:
https://paywall.link/to/MMUDec2019GTA (BTC / Lightning payment)
https://satoshiwall.cash/paywall/1010d555-280a-11ea-a1e8-0242ac190003 (BCH payment)