16/6 BTC Short Term
as we see BTC has reflected the FED +0.75% news and bounced.
we can see BTC/ETH has reached FIB limit: 0.236/0.382.
If you have not open your position on BTC long yet, I am not recommending right now unless we confirm the bottom has formed.
so here are two scenario,
BLUE: next wave didnt reached the bottom 20.1k and bounced with higher than 22.8k and form another higher low with flipping resistance to support at 22.8k. then we can try to put our long position.
RED: Next wave reached the previous high and didnt go higher. and form a lower-low or even reached the previous low at 20.2. then we can put a short position at next lower high.
IMO:
yesterday news should be a bad news to the public. but the bear market may comes to end already since there is a massive long has been liquidated and so does the short position yesterday. so we may see a better chance to see a dead cat bounce to previous Support which is 29k or even higher and then going back lower as I mentioned on last idea that the ultimate target shall be ~13-15k
But stay clam and observe.
we can see BTC/ETH has reached FIB limit: 0.236/0.382.
If you have not open your position on BTC long yet, I am not recommending right now unless we confirm the bottom has formed.
so here are two scenario,
BLUE: next wave didnt reached the bottom 20.1k and bounced with higher than 22.8k and form another higher low with flipping resistance to support at 22.8k. then we can try to put our long position.
RED: Next wave reached the previous high and didnt go higher. and form a lower-low or even reached the previous low at 20.2. then we can put a short position at next lower high.
IMO:
yesterday news should be a bad news to the public. but the bear market may comes to end already since there is a massive long has been liquidated and so does the short position yesterday. so we may see a better chance to see a dead cat bounce to previous Support which is 29k or even higher and then going back lower as I mentioned on last idea that the ultimate target shall be ~13-15k
But stay clam and observe.
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