BTCUSD - Update on the dump
! Not financial advice but someone sharing his trading diary! - Make your own plans and you will do fine in the long run.
What a dump! I was expecting a pullback but not of that magnitude!
Now Supports are flipping to resistance. Is it the end of the bull market? I don't think so. Remember it is Sunday and this movement was a result of overleveraged longs being liquidated.
- The 0.25 Speedfan was retested and got a big bounce from there. If price close inside the Ribbons, it has potential to grow and test the now resistence of 58k. Depending on the reaction, a short can be opened or a long towards new ATH.
- If BTC drops below 51k, then I expect the 382 speedfan to be tested, around 47K. This can be another short.
I am still buying the dips and waiting for the CME to open.
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#btc # bitcoin #technicalanalysis #chart # trading #idea
What a dump! I was expecting a pullback but not of that magnitude!
Now Supports are flipping to resistance. Is it the end of the bull market? I don't think so. Remember it is Sunday and this movement was a result of overleveraged longs being liquidated.
- The 0.25 Speedfan was retested and got a big bounce from there. If price close inside the Ribbons, it has potential to grow and test the now resistence of 58k. Depending on the reaction, a short can be opened or a long towards new ATH.
- If BTC drops below 51k, then I expect the 382 speedfan to be tested, around 47K. This can be another short.
I am still buying the dips and waiting for the CME to open.
--
#btc # bitcoin #technicalanalysis #chart # trading #idea
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