Follow us on:


Bitcoin Price Analysis: Short-Term Bearish, Long-Term Opportunities

BITCOIN: BEARISH pattern Continues!
BITCOIN: BEARISH pattern Continues!

In a recent video, Nick from Cheeky Crypto provided his insights on the current state of Bitcoin and its potential trajectory in the coming months.

Short-Term Bearish Outlook

Nick observed a bearish pattern on shorter time frames for Bitcoin, leading him to enter a short position with targets around $26,950 on the hourly chart. He anticipates a three-wave corrective pattern to the downside.

Long-Term Opportunities

Despite the short-term bearish outlook, Nick believes there will be trading opportunities for both Bitcoin and altcoins in the coming months. He expects stronger market conditions in the latter part of Q1 2024.

Trading Strategies

Nick advocates for a diversified approach, utilizing both leverage-based trading (bitg) and building a HODL portfolio. He encourages viewers to consider various trading strategies and portfolios to suit their risk appetite and investment goals.

Key Takeaways:

Leave a comment

Your email address will not be published. Required fields are marked *