BTC touched down around 17622 before bouncing.. I believe we can still be due for another leg down but we need to consolidate and form an area of consolidation before making another move down or locking in this as the new low.
Ideal can see BTC bounce between the range 20-23.5k before a breakout to the upside straight or leg down.. will be looking to wait for BTC to make a move for next trade.
Below is the trade concept.. Blue is the projected pattern I anticipate.
This is a thesis can be changed by real life time variables.
Ideal can see BTC bounce between the range 20-23.5k before a breakout to the upside straight or leg down.. will be looking to wait for BTC to make a move for next trade.
Below is the trade concept.. Blue is the projected pattern I anticipate.
This is a thesis can be changed by real life time variables.
Note
UPDATE BTC under 16k.
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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.