Seeing bitcoin forming that h&s on the 2hour timeframe with a drop towards 34.7k$ yesterday.
Next we see it retesting an older support rn that turned into resistance.
Expecting price to continue falling down towards 32.5k$. You could aim lower to 25-28k$ but personally i dont think we will see btc that low this run.
Once we go towards 32k$ you should look for that double bottom confirmation then we can rally back up.
Look this weekend out for the weekly closure, last weekends seems to help btc fall down on sunday. If we close under 35k$ we can see a red week coming ahead.
Next we see it retesting an older support rn that turned into resistance.
Expecting price to continue falling down towards 32.5k$. You could aim lower to 25-28k$ but personally i dont think we will see btc that low this run.
Once we go towards 32k$ you should look for that double bottom confirmation then we can rally back up.
Look this weekend out for the weekly closure, last weekends seems to help btc fall down on sunday. If we close under 35k$ we can see a red week coming ahead.
Trade active
Note
Update: Added a TP4 at 25k$Note
TP1 hit - 35k$Note
Retesting the 35k$ level currently expecting it to become resistance then we fly to 32.5k$Note
Expecting the touch of 36k area then we go down againTrade closed: target reached
TP2 also hitted
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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.