How much can bitcoin go up and still be bearish?

Jul 8, 2019

I tried to decide if I want to make this a "short" idea or a "neutral" one, but i decided to make it short because btc still hasn't passed the major resistance that it needs to pass to signal clearly that it's going to test new highs, and as long as it doesn't break that line at 12.2k I will not be expecting a retest of the highs for btc. to make a long story short just look at the chart and you can see the whole point- btc hasn't proven it's going up yet- but even if it will break that line and go up, even if it goes all the way up to 19k, as long as it's in that rising wedge- it would just be another up-leg in an over extended rally, and it would essentially just be going up to go back down again afterwords, probably to another 30% - 40% down from the peak at least.