Bitcoin Short Targets - Long Entries
This is my opinion on where I feel we need to test next on the macro time frame. I expect a strong bullish bounce in the 1st green box which is the 21 weekly ema , and also a very nice fib retracement zone.
If we lose the first bounce zone in the mid to high 8ks I would expect to test the 55ema next in the mid 7ks.. If for some reason that loses support too the 5k's is the last zone I would still consider it bullish on the long term scale still. I would then expect to find a price below 3k. For now my opinion is we bounce at that 1st target in the 8ks at the 21 weekly EMA and attempt to go higher than 14k, this will be determine fairly quickly as the proper bounce will have a lot of momentum.. if the momentum is not there, no reason to expect higher than 14k.
This is NOT financial advice. Trading and Investing are risky, these are only opinions and nothing more.
If we lose the first bounce zone in the mid to high 8ks I would expect to test the 55ema next in the mid 7ks.. If for some reason that loses support too the 5k's is the last zone I would still consider it bullish on the long term scale still. I would then expect to find a price below 3k. For now my opinion is we bounce at that 1st target in the 8ks at the 21 weekly EMA and attempt to go higher than 14k, this will be determine fairly quickly as the proper bounce will have a lot of momentum.. if the momentum is not there, no reason to expect higher than 14k.
This is NOT financial advice. Trading and Investing are risky, these are only opinions and nothing more.
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