Bitcoin is currently trading just under the $20,000 mark (Current Price $19,400).
Technically this parabolic move is way too stretched & it is more likely that the Top of this move is going to be somewhere in-between 19,500 – 22,500.
We are giving a SHORT SELL Call at the current Price of $19,400 with a Stop-Loss at 22,700.
Our Very Short Term Target is $15,400, then later $12,200 & Finally $8700.
We are of the view that $8700 will be achieved within next few weeks or so.
Keep SHORT Positions till the time this target of $8700 is achieved.
Once price starts to decline adjust your stop-loss according to your risk taking capacity. Generally speaking if and when price comes down to $15,400, move your stop-loss to $ 18,400.
Note : We believe that Big Boys of Wall Street will be in action (by SHORT-SELLING Bitcoin) as Bitcoin Futures Trading Begins at CME.
Best Of Luck.