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Macro Analyst Explains Why Shorting Bitcoin is a Bad Idea

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  • Bitcoin is still bullish and could reverse its weekend losses in the coming sessions, according to Marc Principato of Green Bridge Investing.
  • The macro analyst said late Sunday that shorting the cryptocurrency in a broader uptrend is a bad idea.
  • He expects the BTC/USD exchange rate to retest $10,500 as its support level, noting that it holds the potential of attracting accumulators.

The Bitcoin market is still bullish and should negate its intraday losses in the coming sessions, according to Marc Principato of Green Bridge Investing.

The executive director advised traders in his late Sunday journal not to short Bitcoin, ...

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