The BTCUSD seems looking tired represented by the topping patterns on the weekly chart.
The key is $58k support area for the decline towards 36k regression channel support.
the NEW MOON phase also indicates we may see lower in the weeks to come.
Strategy is sell current 62K with a stop-loss at 66k. If it moves above 65.5k it will drift likely higher. The top of the regression channel is 80k.
I wish to add, that Elon mask his poll on TSLA stock, also could mean BTC liquidation holdings on his books. Therefore, caution is advised for buyers.
The key is $58k support area for the decline towards 36k regression channel support.
the NEW MOON phase also indicates we may see lower in the weeks to come.
Strategy is sell current 62K with a stop-loss at 66k. If it moves above 65.5k it will drift likely higher. The top of the regression channel is 80k.
I wish to add, that Elon mask his poll on TSLA stock, also could mean BTC liquidation holdings on his books. Therefore, caution is advised for buyers.
Note
We drifted higher above 65.5k and stop triggered 66k. It does not changes the overall SELL strategy view, but for now sell first increment 70k and again 73k. Medium-term view unchanged 36k lower regression channel.
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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.