$BTC - Value Area
This bounce might just be shorts covering and/or hedges – a kind of mechanical reaction following a liquidation event.
If we are going to consolidate within the current value area (96.5k-104k), I wouldn't be surprised if we get an upthrust retesting 103.8k-104k range before rotating back to take out the swing low.
A potential level for shorting, but I'm only interested in shorting on signs of weakness or a strong rejection at that level.
Possible targets:
94k - 93.5k
90k- 88.5k
84k-80k
If we are going to consolidate within the current value area (96.5k-104k), I wouldn't be surprised if we get an upthrust retesting 103.8k-104k range before rotating back to take out the swing low.
A potential level for shorting, but I'm only interested in shorting on signs of weakness or a strong rejection at that level.
Possible targets:
94k - 93.5k
90k- 88.5k
84k-80k
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Tealstreet.io Trade Faster & Trade Easier
Content in partnership with:
twitter.com/mooncakexbt
twitter.com/huskyXBT
Content in partnership with:
twitter.com/mooncakexbt
twitter.com/huskyXBT
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.