Bearish engulfing candle started a liquidation hunt on the over leveraged bulls today but from looking at the charts it may be a great area to start buying BTC again. 8100-8200 is holdings strong and points to test 8350-8400 which should dictate our short term movement based on its reaction as old support is now resistance. I do not recommend using leverage as either direction comes with a ton of risk as we all saw what happened today and it too early to say we are done from dumping. I have a self made strategy of TA so hopefully the lines are not too confusing as this is my day trading chart and not to be used for long term speculation, Good Luck!
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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.