BTC possible area of value lies in the $17600 support zone where I see a possible Double Bottom with Neckline around $25000. At this zone BTC could possibly print a smaller Double Bottom before breaking back to the neckline. Should $17600 fail to hold as support, then switch to short after confirmation via Bearish Retest.
In the immediate scenario, possible Short after local support break around $19700 for short term traders targeting $17600 zone.
If you liked this idea or if you have your own opinion about it, write in the comments.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations.
Disclaimer
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.
Disclaimer
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.