BTC short-term long position idea to the 7600-7500 area.
Updated
BTC may have hit a bottom, price broke above a short term down trend line (yellow line), and is likely going to test the 7000 area (thin purple line), if it breaks above purple line, I expect the 7600-7500 area on orange line
The main trend is still down, but I see this movement going to up to test the 7600-7500 area.
The main trend is still down, but I see this movement going to up to test the 7600-7500 area.
Comment
As expected price has met large resistance at the thin purple line.If price fails to break the purple line soon, I expect fast downward movement to the low 6600 area.
If price successfully breaks the thin purple line, it will be on track to the 7500 area on orange line.
Comment
Currently sitting at long-term downtrend line. A big decision will be made soon
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.