BitcoinLong
Long #BTC to 20,800 BUT waiting for confirmation.
Looking for BTC at 20,650-20800 before correcting on a long resistance trend.
If we can gain support above the purple trend line again, this would be confirmation of a reversal to me.
Id expect the antagonist to this would be the squeeze on this wedge forming. Watch for volume picking up in either direction for confirmation.
If not, id expect further downside toward the yellow trend area and 18391
17894 would be another area to watch on the downside as it intersects with a longer trend line as well.
Id watch for a reversal at both areas if we continue to see downside.
Ive got a few charts for #BTC that i will refer to depending on how this plays out.
** Im not adding to my position until i see confirmation of a reversal from the downside.
If we can gain support above the purple trend line again, this would be confirmation of a reversal to me.
Id expect the antagonist to this would be the squeeze on this wedge forming. Watch for volume picking up in either direction for confirmation.
If not, id expect further downside toward the yellow trend area and 18391
17894 would be another area to watch on the downside as it intersects with a longer trend line as well.
Id watch for a reversal at both areas if we continue to see downside.
Ive got a few charts for #BTC that i will refer to depending on how this plays out.
** Im not adding to my position until i see confirmation of a reversal from the downside.
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