As bearish as I am I believe that the market is going to print an expanded flat scenario. But Market can do whatever they want it can turn this expanded flat into a bullish scenario. Therefore I am looking forward to spot long at this area as there is a potential a 20% to 30% gain by just holding spot. Having a leverage future long as this region is a little bit risky but if I would like to log it in a leverage I would look for another low before actually deciding that a long position would be favorable. But if you are trading Bitcoin in the spot then I would suggest that we can start dcaing right here. There is a lot of support at this area that I marked which lens on somewhere around 74k. But if we lose this support then I'm expecting the market to go deep further down to at least 69k. But without any proof of certainty I cannot chart the market as if it's about to happen just yet. So I would wait for the market to show me more significant downside move before I actually think that the bull is over.
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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.