there is a local bottom here. it is unclear if it will hold, however entering here is good r/r, with clear invalidation. sellers have smashed themselves into 60k multiple times, however there is no follow up. there is no buildup of leverage to cascade (as of the time of writing this). spot selling has appeared to slow instead of accelerate.
this is not to say we won't go lower later. however it is a good place to attempt a long, with a considerable probability of being the bottom.
this is not to say we won't go lower later. however it is a good place to attempt a long, with a considerable probability of being the bottom.
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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.