Update on Bitcoin: decision level is approaching
Updated
I am still expecting the price to test monthly open at $7500 as we have outlined earlier. If we will close H4 above $7500 it's bullish and we can target $8000.
If we will reject H1/4 at $7500 I am expecting to take lows (sell-side liquidity) at $7000.
Plan:
1) If hourly can close above $7550 it is a bullish sign and price will expand to $8000 level
2) We are approaching big resistance which caused rejection at $7500 level and still, we have un-tested two key supports at $6900 and lower. So if there will be hourly rejection or not enough strength to push and close above $7550 then I will take shorts down to $7000
If we will reject H1/4 at $7500 I am expecting to take lows (sell-side liquidity) at $7000.
Plan:
1) If hourly can close above $7550 it is a bullish sign and price will expand to $8000 level
2) We are approaching big resistance which caused rejection at $7500 level and still, we have un-tested two key supports at $6900 and lower. So if there will be hourly rejection or not enough strength to push and close above $7550 then I will take shorts down to $7000
Note
First signs of weakness as we have outlined at $7500.Note
I do a daily observation of major currencies in forex and crypto. Do not miss any move, high-valued analysis or educational content.Telegram: t.me/ADA_Public
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Note
If we will lose $7300 then I am expecting the price to visit $7000 and lower as stated in analyze.Note
Rejection at our pre-defined level. Expecting taking out equal lows at $7000 and filling CME gap.Note
found support on our pre-defined level and followed by rally +5.5% gain, -30$ drawdown from our supportNote
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