How far market will drop? Complete midterm BTC analysis🐻🐂
Today many bulls woke up with horror in their eyes, BTC dropped once more and the drop is heavy.
Bears on the other hand, excited since a lot of shorts worked out well, I am one of them.
Let's look at BTC and see what's waiting for us here.
We broke the support at 20k and now heading down. Problem here is that there no strong levels nearby. Closest Levels that can become support are 6% away from here.
For intraday traders and scalpers it's a good idea to short this market. However, I wouldn't advise to do it today since most coins are at full ATR already, pullback should be expected.
To become bullish once again, we have to break the trendline on the chart as until we are trading under it, we are in bear market.
Also for bulls opportunities are not over as they can take bounces or local trendline breakouts when price reaches "Strong support 1" or "Strong support 2"
Always be careful, don't try to subdue the market, just follow it. And have strict risk-management!
What do you think of this idea? What is your opinion? Share it in the comments📄🖌
If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊
P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones
Bears on the other hand, excited since a lot of shorts worked out well, I am one of them.
Let's look at BTC and see what's waiting for us here.
We broke the support at 20k and now heading down. Problem here is that there no strong levels nearby. Closest Levels that can become support are 6% away from here.
For intraday traders and scalpers it's a good idea to short this market. However, I wouldn't advise to do it today since most coins are at full ATR already, pullback should be expected.
To become bullish once again, we have to break the trendline on the chart as until we are trading under it, we are in bear market.
Also for bulls opportunities are not over as they can take bounces or local trendline breakouts when price reaches "Strong support 1" or "Strong support 2"
Always be careful, don't try to subdue the market, just follow it. And have strict risk-management!
What do you think of this idea? What is your opinion? Share it in the comments📄🖌
If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊
P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones
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👑 Приєднуйтесь до крипто спільноти 🇺🇦☝️
Registration for the course "Scalping for Beginners" link in bio
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