BTC Bitcoin
last week i told you to not count on the first TWO lines below $29.1 line to hold second time around, like they did last week.
BUT instead to watch for reaction at the $27.9 line. for most likely a bounce to $28.7 range
followed by the continued sell-off to the $27.1 line and THEN begin questioning your position sizes and if going back up or down based on macro etc.
WELL so far it seems this scenario has about 50% played out and we will wait and see what follow through we get from here and then reassess.
If the SPX sell-off continues downward this week. I'll be watching for a test of that lower trend line again currently sitting at about 4060, if and when we get that moment if it gives reaction as expected i will base that line on judging where BTC has fallen to and how much to BUY.
IF that line doesn't hold this time I'll be watching for real support to HOPEFULY kick in at the next line down I've given you from the October low currently sitting around 3925.
If nothing else I'd personally expect a bounce from there and a great scalp opportunity while it ran back up to about 4080 to test old support and see if its now bad R.
BUT instead to watch for reaction at the $27.9 line. for most likely a bounce to $28.7 range
followed by the continued sell-off to the $27.1 line and THEN begin questioning your position sizes and if going back up or down based on macro etc.
WELL so far it seems this scenario has about 50% played out and we will wait and see what follow through we get from here and then reassess.
If the SPX sell-off continues downward this week. I'll be watching for a test of that lower trend line again currently sitting at about 4060, if and when we get that moment if it gives reaction as expected i will base that line on judging where BTC has fallen to and how much to BUY.
IF that line doesn't hold this time I'll be watching for real support to HOPEFULY kick in at the next line down I've given you from the October low currently sitting around 3925.
If nothing else I'd personally expect a bounce from there and a great scalp opportunity while it ran back up to about 4080 to test old support and see if its now bad R.
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