Bitcoin can show another one short squeeze and then goes down
Hello, Community!
As we warned you earlier
BTC demonstrated the new local pump to $31800 exactly as it has been pointed out in last Bitcoin analysis. SmartBot is still holding the position and the take profit at the strong resistance level at $31800 is valid.
Algorithm prints the green line at the potential reversal level. It is based on Elliott waves and the long position still has not been closed because strategy believes that wave 5 is about to happen. This wave can set the slight higher high.
Of course the SmartBot is measuring the potential risks and has two additional levels to DCA current position. Therefore, we can see two strong support levels at $29562 and at $28177. If price hit one of this target, strategy is not going to wait for the take profit at $31850 because the green line will change it's value to lower prices. Such huge downward impulse is gonna be the sign that pump is over and we have to close all trades on any correction.
As you can see SmartBot takes into account every scenario. It has different potential waves formations in mind and switch between them looking at the current price action.
Best regards, Skyrex team
🔥Please, follow me and smash the rocket🚀 button to support me🔥
As we warned you earlier
BTC demonstrated the new local pump to $31800 exactly as it has been pointed out in last Bitcoin analysis. SmartBot is still holding the position and the take profit at the strong resistance level at $31800 is valid. Algorithm prints the green line at the potential reversal level. It is based on Elliott waves and the long position still has not been closed because strategy believes that wave 5 is about to happen. This wave can set the slight higher high.
Of course the SmartBot is measuring the potential risks and has two additional levels to DCA current position. Therefore, we can see two strong support levels at $29562 and at $28177. If price hit one of this target, strategy is not going to wait for the take profit at $31850 because the green line will change it's value to lower prices. Such huge downward impulse is gonna be the sign that pump is over and we have to close all trades on any correction.
As you can see SmartBot takes into account every scenario. It has different potential waves formations in mind and switch between them looking at the current price action.
Best regards, Skyrex team
🔥Please, follow me and smash the rocket🚀 button to support me🔥
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