BTCUSDT - PERP [ BINANCE } TA
Updated
Bitcoin is a a pivotal price point at the moment if we break down out of the trend we could see a sustained downward trend heading out to September time.
On the other hand if we bounce off the bottom trend line here we could quite easy head off to the 12k+ range in a very short time.
Below are the 2 scenarios that we are watching for it should become very clear which path Bitcoin is going to take in the coming hours.
This non marked section was the no trade zone zone until the trend breaks again to the upside or we break out of this long up-trend and head back to the downside.
If we break to the upside expect to to be sharp new traders should not chase the pump as the reversal could come very quickly after the pump.
On the other hand looking for the short would be my advice if there is no break to the upside in the next 6-24 hr's I would expect to open some short positions looking to take profit at the levels set in post 1.
Stay safe traders and let's hope for MOON !
On the other hand if we bounce off the bottom trend line here we could quite easy head off to the 12k+ range in a very short time.
Below are the 2 scenarios that we are watching for it should become very clear which path Bitcoin is going to take in the coming hours.
This non marked section was the no trade zone zone until the trend breaks again to the upside or we break out of this long up-trend and head back to the downside.
If we break to the upside expect to to be sharp new traders should not chase the pump as the reversal could come very quickly after the pump.
On the other hand looking for the short would be my advice if there is no break to the upside in the next 6-24 hr's I would expect to open some short positions looking to take profit at the levels set in post 1.
Stay safe traders and let's hope for MOON !
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