BITCOIN - 30K Incoming!
Updated
Our previous posts on Bitcoin shorts have been playing out really well and it could be that we may have another short setup on our hands.
Bitcoin is approaching the 40k level which has been a psychological level for quite some time. We broke through that and we could be retesting it and heading towards 30k (as mentioned in our higher timeframe Bitcoin posts)
Trade Idea:
- Watch for price to approach the 40K (or around that level) and show rejection
- Risk entry on rejection of the structure level
- Safe entry on the break of lower timeframe ascending trendline
- Targets: 33k, 30k
Let us know if you agree or disagree. Goodluck!
Bitcoin is approaching the 40k level which has been a psychological level for quite some time. We broke through that and we could be retesting it and heading towards 30k (as mentioned in our higher timeframe Bitcoin posts)
Trade Idea:
- Watch for price to approach the 40K (or around that level) and show rejection
- Risk entry on rejection of the structure level
- Safe entry on the break of lower timeframe ascending trendline
- Targets: 33k, 30k
Let us know if you agree or disagree. Goodluck!
Note
Higher timeframe analysis
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