Hi,
I would like to point out a few scenarios of Bitcoin price movement. To be said I'm short-, mid-term bearish atm and searching for some setups.
The price of BTC made a break below the trendline, got a strong close below 34k and it is fell around the mentioned 30k.
Now, a strong 4H candle close below the light-blue area and below 30k will trigger the selling pressure. To get better entries you need to wait for a retest of 30k as shown on the image above.
The second selling area is around $35k. Cannot give you a buy signal because there aren't enough criteria to do that so, IF the price starts to climb back higher then watch out for resistance at 35k. It can play a significant role in future price action. First of all, I will start to search for sell setups because the area is really strong, If I see it I will definitely make an update!
Atm the selling pressure is on!
Buyers - be extra cautious if the price falls lower from 30k, you can get back on track after the price breaks above 35k.
Sellers - wait for a strong close below 30k, retest, and go for it. The second area 35k is also quite heavy resistance and you can try there also but as said I will keep you posted!
Regards,
Vaido
I would like to point out a few scenarios of Bitcoin price movement. To be said I'm short-, mid-term bearish atm and searching for some setups.
The price of BTC made a break below the trendline, got a strong close below 34k and it is fell around the mentioned 30k.
Now, a strong 4H candle close below the light-blue area and below 30k will trigger the selling pressure. To get better entries you need to wait for a retest of 30k as shown on the image above.
The second selling area is around $35k. Cannot give you a buy signal because there aren't enough criteria to do that so, IF the price starts to climb back higher then watch out for resistance at 35k. It can play a significant role in future price action. First of all, I will start to search for sell setups because the area is really strong, If I see it I will definitely make an update!
Atm the selling pressure is on!
Buyers - be extra cautious if the price falls lower from 30k, you can get back on track after the price breaks above 35k.
Sellers - wait for a strong close below 30k, retest, and go for it. The second area 35k is also quite heavy resistance and you can try there also but as said I will keep you posted!
Regards,
Vaido
Comment:
Short-term trade almost active:
