BTC 1H - UPDATE: SHORT!!
Following up on the BTC 1H chart - we can see BTC price falling steadily within the overall downtrend since May 19. We now see BTC falling in a downward trend within the overall BTC downtrend. BTC has been trying to make its' move to break above 35K but resistance is too great and with no real volume, BTC cannot pass the 35K for a real run up into the 40, 50, even 60. We won't see these high numbers for some months. We are in a bear market overall.
As mentioned in my previous ideas, BTC did bounce out of the downtrend to hit around 34.5K then came right back down inside the downtrend again and now is under 32K. From this price, you can expect a few scenarios to be played out as indicated by the different colors on the chart, but again, if BTC is to break out from the downtrend, it should once again go as high as 35K then should come back down again. There just simply isn't enough volume as well as positive news out there that would enable BTC price to surge higher.
SHORT ORDER: 32.2 - 32.5K
SL: 32.8 - 33K
TP: 30.5k, 29.5k, 28.8k
Not financial advice.
Good luck.
As mentioned in my previous ideas, BTC did bounce out of the downtrend to hit around 34.5K then came right back down inside the downtrend again and now is under 32K. From this price, you can expect a few scenarios to be played out as indicated by the different colors on the chart, but again, if BTC is to break out from the downtrend, it should once again go as high as 35K then should come back down again. There just simply isn't enough volume as well as positive news out there that would enable BTC price to surge higher.
SHORT ORDER: 32.2 - 32.5K
SL: 32.8 - 33K
TP: 30.5k, 29.5k, 28.8k
Not financial advice.
Good luck.
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