Morning folks,
So, just we've completed with triumph our bullish setup on Monday - situation has changed drastically. Drivers of collapse is a separate topic for discussion. But it seems that market is very nervous now, not knowing in what direction to follow. This in turn tells, that ETF background as a driving power of the bulls is exhausted.
Today we do not have any clear patterns. But taking in consideration few moments on daily chart, like failed upside breakout, Wash&Rinse all stops that have been placed around it and downside momentum, I would stay away from any long positions by far.
Strong daily K-support was able to stop the tragedy. But momentum down is strong and we suggest that BTC still could re-test this level of ~41K area, before direction could change.
So, just we've completed with triumph our bullish setup on Monday - situation has changed drastically. Drivers of collapse is a separate topic for discussion. But it seems that market is very nervous now, not knowing in what direction to follow. This in turn tells, that ETF background as a driving power of the bulls is exhausted.
Today we do not have any clear patterns. But taking in consideration few moments on daily chart, like failed upside breakout, Wash&Rinse all stops that have been placed around it and downside momentum, I would stay away from any long positions by far.
Strong daily K-support was able to stop the tragedy. But momentum down is strong and we suggest that BTC still could re-test this level of ~41K area, before direction could change.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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.