27/6 BTC Short Term
BTC has to form a significant higher high to confirm a bull trend return then we can target 22.9k as next resistance. But we can see BTC was rejected at 21.8k which is a typical false breakout as shown as orange colored Top. With considering Dow’s theory, the following raising is not the same as previous movement. (17.6k to 21.6k vs. 19.7k to 21.8k).
So we sure that reversal is coming up and we can wait for the short entry. Then we focus on 1hour chart and we can see there forms a momentum divergence with forming a lower high at 17:00. So we can try to enter short right now and see how it can goes.
With considering the Pivot zone and previous support. I think the worst scenario would be touching the previous Day low at 18.5k to 17.5k.
PS. Forgot to update on Tradingview, I would prefer to try buy more at green zone. If the BTC breakout, we may see 13k as a ultimate bottom.
So we sure that reversal is coming up and we can wait for the short entry. Then we focus on 1hour chart and we can see there forms a momentum divergence with forming a lower high at 17:00. So we can try to enter short right now and see how it can goes.
With considering the Pivot zone and previous support. I think the worst scenario would be touching the previous Day low at 18.5k to 17.5k.
PS. Forgot to update on Tradingview, I would prefer to try buy more at green zone. If the BTC breakout, we may see 13k as a ultimate bottom.
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