Hello Friends,
I have reason to believe bitcoin is not done falling yet. Currently we are at 10.4k and we have closed a daily candle above 10.5k which is potentially going to act as resistance for now. I believe we will retrace to our trendline support at 9700 which is also where our CME gap is and the gap tends to get filled 99% of the time. Going long at 9.7k, BTC will take some time to recover but will retest 12k soon.
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I have reason to believe bitcoin is not done falling yet. Currently we are at 10.4k and we have closed a daily candle above 10.5k which is potentially going to act as resistance for now. I believe we will retrace to our trendline support at 9700 which is also where our CME gap is and the gap tends to get filled 99% of the time. Going long at 9.7k, BTC will take some time to recover but will retest 12k soon.
If you like the idea please give me a follow. Thanks!
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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.