#BTCUSD Correction has started!
Updated
The long awaited correction has started.
Broke below the 21D MA
Expecting a retest around 18.5k and then further down to the 17.4k level.
BTC won't dump for 10 to 20% at once it will go down slowly.
If you are a margin trader you can short the resistance levels and long the support levels with stop losses.
Currently the complete market is uncertain so better to be careful.
We can still see a spike from here to 19k and further down (This move will be to trap the late longs).
The scenario 2 that I posted 2 weeks back is playing perfectly as of now.
The direction is to the downside but with multiple retest to the upper levels. There's a lot information given in the chart please pay attention and observe.
Invalidation of this chart would be a daily close above 19.3K which seems likely for now.
Feel free to Hit the like button if you like this update and share your views in the comment section.
Staysafe
#PEACE
Broke below the 21D MA
Expecting a retest around 18.5k and then further down to the 17.4k level.
BTC won't dump for 10 to 20% at once it will go down slowly.
If you are a margin trader you can short the resistance levels and long the support levels with stop losses.
Currently the complete market is uncertain so better to be careful.
We can still see a spike from here to 19k and further down (This move will be to trap the late longs).
The scenario 2 that I posted 2 weeks back is playing perfectly as of now.
The direction is to the downside but with multiple retest to the upper levels. There's a lot information given in the chart please pay attention and observe.
Invalidation of this chart would be a daily close above 19.3K which seems likely for now.
Feel free to Hit the like button if you like this update and share your views in the comment section.
Staysafe
#PEACE
Note
Playing perfectly so far.Note
BTC followed our previous scenario perfectly again.
It bounced from the 17.5k support and reached our 18.5k+ retest level.
What do I expect from here?
I think we will hold the 17.5k level for now.
The 200D MA is around 17.7k which is a good thing.
We can test this major psychological Price level and bounce back above 18k.
Invalidation of this scenario would be a daily close below 17.5k.
In the mean time I can see some good buying opportunity in altcoins.
I will post some charts now and follow up the current ongoing trade setups.
Stay tuned.
Please support my work with your likes and comments, it motivates me to work harder and deliver these quality updates for you all.
Thank you
#PEACE
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