BTC Bull Vs Bears Battle 1 - 9.2k
Updated
Ok, I try to put aside my shy and write my first idea.
So BTC broke the log downtrend from Jan. We see so many bulls around but has the bear markey really ended? As the week comes to an end, Apr 22 candle close will be the first key decider. Yesterday calendar close (Apr 21) matches with that of Mar 20 and Mar 21 was the bull trend reversal that BTC sent to 6.5k. if a trend reversal were to happen and the market could turn bearish, we can expect that today (Apr 22). We would retest 9.1k region again today and if we break out and close above 9.2k, that would be the first strong confirmation for a bullish case. if we fail to break 9.2k, we could see a bearish reversal.
I think a breakout to 11.2 is very unlikely, but BTC has always surprised us in the past. if a reversal happens, 9150 will be a golden short.
So BTC broke the log downtrend from Jan. We see so many bulls around but has the bear markey really ended? As the week comes to an end, Apr 22 candle close will be the first key decider. Yesterday calendar close (Apr 21) matches with that of Mar 20 and Mar 21 was the bull trend reversal that BTC sent to 6.5k. if a trend reversal were to happen and the market could turn bearish, we can expect that today (Apr 22). We would retest 9.1k region again today and if we break out and close above 9.2k, that would be the first strong confirmation for a bullish case. if we fail to break 9.2k, we could see a bearish reversal.
I think a breakout to 11.2 is very unlikely, but BTC has always surprised us in the past. if a reversal happens, 9150 will be a golden short.
Note
BTC has knocked the 9.1k door couple times and failed but is unwilling to go down. Shorts are very risky at the moment. I'm trying to catch a long from 8775 and see how the next retest of 9.1k goes. If it fails again, will open a short there. watching closely.Note
Caught my long at 8775, will look for a good shorting spot if we fail 9.2k retest. if we breakout upwards from 9.2k, next key resistance is around 9.5k.Note
took some profits around 9.2k.
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