BTC Short Term disposition, still following last week's Wyckoff
I am switching to BUSD from my previous USDT futures given the unstable state of Tether following the deletion of their CEO Twitter.
Some of you might already know, but for those who havent, trading in Binance with BUSD is currently cheaper than BNB (Fee wise)
On to the current prediction for BTC, based on my previous ETH Wyckoff chart, both BTC and ETH are now in the LPSY state (last point of supply) before a significant correction must occur.
We did have a nice profitable bull run for the last two weeks, further continuation of the bull could create a spillover, and it is not something that we want to happen. A correction must now takes place, and on the short term, I have drawn my assumption following the still ongoing Wyckoff that I have drawn previously.
We are now looking approx 55,300 for the first stopover and after brief rebound, on to the next one to 53,000. From then on, BTC could rebound hard or stay sideways for quite a while.
We will see how it plays out in the next few hours, I personally is still on short from 57,000, and if you are in the same position, I wish you the best of luck.
Thanks for stopping by and hope you always stay profitable
Some of you might already know, but for those who havent, trading in Binance with BUSD is currently cheaper than BNB (Fee wise)
On to the current prediction for BTC, based on my previous ETH Wyckoff chart, both BTC and ETH are now in the LPSY state (last point of supply) before a significant correction must occur.
We did have a nice profitable bull run for the last two weeks, further continuation of the bull could create a spillover, and it is not something that we want to happen. A correction must now takes place, and on the short term, I have drawn my assumption following the still ongoing Wyckoff that I have drawn previously.
We are now looking approx 55,300 for the first stopover and after brief rebound, on to the next one to 53,000. From then on, BTC could rebound hard or stay sideways for quite a while.
We will see how it plays out in the next few hours, I personally is still on short from 57,000, and if you are in the same position, I wish you the best of luck.
Thanks for stopping by and hope you always stay profitable
Trade closed: target reached