BTCUSD: Time is running out
Hey all!
From the looks of things, I don't believe BTCUSD will be able to settle above the massive 36k resistance formed by its previous major Volume Point of Control in any meaningful way in the timeframe necessary to save it from the true dip coming.
I expect 28k will be another key place the bulls will try to hold, followed by a massive selloff down to 18k. It may even graze the 15k mark during the panic selling that will likely ensue.
Stay safe out there!
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I'll leave you with my personal Key Decision Algorithm:
- Always choose the choices that maximize your future potential freedom of action
- Always choose the choices that minimize regret
- Always choose the choices that minimize suffering within your sphere of influence
From the looks of things, I don't believe BTCUSD will be able to settle above the massive 36k resistance formed by its previous major Volume Point of Control in any meaningful way in the timeframe necessary to save it from the true dip coming.
I expect 28k will be another key place the bulls will try to hold, followed by a massive selloff down to 18k. It may even graze the 15k mark during the panic selling that will likely ensue.
Stay safe out there!
-----
I'll leave you with my personal Key Decision Algorithm:
- Always choose the choices that maximize your future potential freedom of action
- Always choose the choices that minimize regret
- Always choose the choices that minimize suffering within your sphere of influence
Note
It's a nail biter! Bulls showed up with some volume and pushed the price above the 36.8k resistance, but at the moment, it's still trapped below the top of the channel. Depending on how the next 24 hours goes, we will get confirmation one way or another. I do see a scenario where it completes the giant head and shoulders pattern by rallying to the 40 - 45k range. Be careful though! Wait for confirmation!
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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.