BTCUSD - Bulls need to hurry up
! Not financial advice but someone sharing his trading diary! - Make your own plans and you will do fine in the long run.
Bitcoin is in trouble. The cascade liquidations on the weekend seems to have affected the mid-term outlook and the hash-rate/china fud stuff scared people, who are better at gambling with Doge.
To add one more confluence to what we bounced from the 51k level: Yesterday I have presented my SpeedFan and today I present my pitchfork. Both had pointed to the same level.
So what to expect next?
A daily close like today (below 56k) will make the price more likely keen to visit 49-48k again. Losing this level and we go down to 41k.
The best hope for the bulls is to follow this fractal. Keep price sideways and then push it back up when bears feel they can't control
- At this level, not looking for shorts but buying the dips. Since the long term still looks promising.
#btc # bitcoin #technicalanalysis #chart # trading #idea
Bitcoin is in trouble. The cascade liquidations on the weekend seems to have affected the mid-term outlook and the hash-rate/china fud stuff scared people, who are better at gambling with Doge.
To add one more confluence to what we bounced from the 51k level: Yesterday I have presented my SpeedFan and today I present my pitchfork. Both had pointed to the same level.
So what to expect next?
A daily close like today (below 56k) will make the price more likely keen to visit 49-48k again. Losing this level and we go down to 41k.
The best hope for the bulls is to follow this fractal. Keep price sideways and then push it back up when bears feel they can't control
- At this level, not looking for shorts but buying the dips. Since the long term still looks promising.
#btc # bitcoin #technicalanalysis #chart # trading #idea
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.