Last chance to have the opportunity to get on BTCs Moon landing.No matter how you look at the chart, the price is not on support right now. The price has broken through the support of the flat, and now it is hanging in the air.
The nearest strong support is around $12.5k-$13k and then toward $9.5 to $10k if the worst is to come, which exists due to many factors. As an example, I show you the target for the breakout of the flat, which is only one of the bases of the level.
What should be our next plan?
I am starting to form a formal short, from the current price and up to $18750. The main target will be $12k.
"Formal," as a chance for a $19k pullback exists. Unfortunately, if it happens, we can consider such a dump — a fakeout, so we will have to flip long.
If the retest is successful and the price won't allow fixing above $18k ±$19k for a long time, I will be increasing the short position already on confirmation of the retest below ±$18k.
Will start without any preface. There are two options of what can happen next and here is the first, OPTIMISTIC one:
There is a massive consolidation zone with $17,800 - $25,000 borders. As you can see, the price dumped below the support line.
We may see the dump continuation down to the $15,500 - $16,000 zone and pump back above the $17,800 level. This would be called a DEVIATION. In other words, fake breakdown of the support.
That's a bullish case. How we advise to trade it: buy on the $17,800 breakout upwards. This is the safe option. Buying in the $16,000 zone is risky. Explanation will appear in the next publication❗️
Why do I think buying the $16,000 zone is NOT THE BEST idea?
This support zone is not really strong — it can hold the price for some time, but it can not be defined as the ULTIMATE BOTTOM for Bitcoin. The Macro Technical Analysis says we can easily flip $14,800 - $15,000 into resistance.
You can fill your bags at $15,000 - $16,000 but what will you do if the price will continue dumping to $14,000 - $12,000 - $10,000? You will suffer from moral pressing and sell in huge loss with high probability.
The difference between $16,000 and $11,000 is ±25%. Meanwhile the difference between $16,000 and $17,500 is only ±10%.
I would rather MISS 10% of potential profit than LOSE 25% of my deposit (even for a while). Hope you get my point.
Stay Tuned.
Don't forget to drop your likes if you agreed with the idea and drop your comments too if you have any disagreement on any part of my assemption and let's share knowledge and learn from each other.
This is not a financial advice and its just an insight from the team for idea sharing only. We don't take any responsibilities for your loss and make your own research before you invest any dime. And remember to invest the amount that you only can afford to loss.
