🔻 Globally, we are in a bearish wedge.
The price made a fake breakout and currently looks weak. On the 1D timeframe, we’re in an ascending channel similar to what we saw in 2021. Back then, after making a second higher high, the price sharply reversed downward.
📉 I believe the relevant downside targets are $60,000 and $40,000.
🔺 I’m currently in a short position, with a stop at $125,333.
The price made a fake breakout and currently looks weak. On the 1D timeframe, we’re in an ascending channel similar to what we saw in 2021. Back then, after making a second higher high, the price sharply reversed downward.
📉 I believe the relevant downside targets are $60,000 and $40,000.
🔺 I’m currently in a short position, with a stop at $125,333.
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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.