BTC bounced in the weekend from the fib golden pocket, and pushed back up to above 48k.
However, it quickly moved back down, completing a swing failure pattern. We also have trapped longs at the top
For now, all scenarios are still in play as we haven't confirmed the down trend, but the 1st scenario that I gave you in my post 2 days ago is still the one that is playing out until now.
We want to stay below VWAP, lose dOpen and break the fib golden pocket at around 46.4k, but more importantly lose the channel.
So downtrend not confirmed yet, personally still in my short, but I'm careful, I wouldn't like to see another push above 48k
Any questions?
Good luck traders
Remember not to break your rules
Habib
However, it quickly moved back down, completing a swing failure pattern. We also have trapped longs at the top
For now, all scenarios are still in play as we haven't confirmed the down trend, but the 1st scenario that I gave you in my post 2 days ago is still the one that is playing out until now.
We want to stay below VWAP, lose dOpen and break the fib golden pocket at around 46.4k, but more importantly lose the channel.
So downtrend not confirmed yet, personally still in my short, but I'm careful, I wouldn't like to see another push above 48k
Any questions?
Good luck traders
Remember not to break your rules
Habib
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.