BTC/USD - Failed Recovery?- Forecasting more pain for BTC -
Expecting further retrace.
30K entry target remains in play.
Shouldn't matter whether we see red or green by days end, both options should find their way to the same place by EOM.
Caution advised on all positions.
Personally I believe we need to dip further before we can effectively bounce back.
Small upshot- (if at all) over next 48hrs should be rejected.
* A break back above the recovery line could indicate a change in momentum however this seems highly unlikely - (be watching for it regardless)
As always, not financial advice,
Just my thoughts and TA.
Thoughts and feedback welcomed.
Bingaz.
30K entry target remains in play.
Shouldn't matter whether we see red or green by days end, both options should find their way to the same place by EOM.
Caution advised on all positions.
Personally I believe we need to dip further before we can effectively bounce back.
Small upshot- (if at all) over next 48hrs should be rejected.
* A break back above the recovery line could indicate a change in momentum however this seems highly unlikely - (be watching for it regardless)
As always, not financial advice,
Just my thoughts and TA.
Thoughts and feedback welcomed.
Bingaz.
Related publications
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.