Sive-Morten

36.5K area for tactic long entry

COINBASE:BTCUSD   Bitcoin
Greetings everybody,

BTC stops the rally for awhile under impact of interest rates jump in US. It is hurt less than gold or EUR, but still, rally is taking the pause. In current circumstances we keep the same tactics and still think that the most safe way to deal the market is to buy the deeps around good support areas. As we have no clear patterns by far, on daily chart we still have 36.5K level that is Fib support and it is accompanied with daily oversold. Potentially this combination creates interesting background for short-term long trade.
We do not consider short trades now, but if you still would like to do them - try to rely only on clear bearish patterns on intraday charts. While you do not have any - do not take short position as it is very risky to go against the train.

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