Although i don't actively trade BTC.USD i have continued to receive a large number of messages asking for my insight on the next move. I have been calling for 7k - 8k for some time and i continue to hold my bias as price has broken below strong structure support levels.
I do see this long term price targeting the 50k level however for those looking for unicorn positions, i feel this move will be slow and steady over the coming years.
I will continue to update this setup and give my personal view to the market ( TradingView )
Trading Pair: BTC.USD Time Frame: Daily Predicted Direction: Short
Live BTC.USD updates will be available in the comments section below.
Yorum
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Price retesting descending trendline support, i do expect a bounce in the coming days, a pullback and a further push towards 7k - 8k
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Sub 10k has now been achieved, i believe this will be a strong catalyst for many speculative traders to exit their positions. Sell the hype, buy the fear effect.
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Price rejecting descending trendline support, a pullback is now expected prior to the next short opportunity.
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4hr pullback is underway, i will be scouting a short opportunity in the coming days.
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Price has now pulled back to the 38.20% i will be looking for divergence, deceleration and reversals
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Looking for price to break $11,163 previous minor support, should this occur i feel a snowball effect could proceed.
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Key Daily & 4hr Historic Structure Levels
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Looking for a breakout of descending trendline support which for me is the last key support level before a sharp sell off.
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1hr TF chart setup.
Yorum
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Textbook break and retest of $12,700 & 38.20% fibonacci retracement
last friday posted:
4 hours ago posted long at the red line with 1 TP 11570
now done