BTCUSDT - The Big Picture
Updated
In a nutshell, still bullish.
On daily TF it has crossed down the lower Bollinger Band - normally bounces back quickly. Also, It's oversold on 4H and 1H timeframes, so a quick temporary recovery from here is expected. But still should retest $28,000 and touch the long-term trendline. Might even go a bit lower to the $27,000 level (My assumption: a bear trap breaking down the uptrend line). I've set long orders between 27,000 and 28,100.
Ofc as always, this is not financial advice.
On daily TF it has crossed down the lower Bollinger Band - normally bounces back quickly. Also, It's oversold on 4H and 1H timeframes, so a quick temporary recovery from here is expected. But still should retest $28,000 and touch the long-term trendline. Might even go a bit lower to the $27,000 level (My assumption: a bear trap breaking down the uptrend line). I've set long orders between 27,000 and 28,100.
Ofc as always, this is not financial advice.
Note
Worked out well
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