JICPT| BTC rebounding from strong holder zone as expected!
Hello everyone. Yesterday, I published an idea titled 'Global market rattled by Evergrande's crisis', which I marked a strong holder zone around $40000 on BTC with long-term MA and flip structure. You can check the linked idea below for more information.
I was right about the zone which did serve as a strong holder. I can see price went deeply into the zone and rebounded from $40000 key level(whole number effects). The coming Thursday will be another important day as Evergrande will be required to pay back interest on its bond. The default is likely according to S&P and it might trigger another sell-off of the global risky assets. Personally, though, I don't think there is much room to go down for Bitcoin.
Please trade safe and mange your position well.
I was right about the zone which did serve as a strong holder. I can see price went deeply into the zone and rebounded from $40000 key level(whole number effects). The coming Thursday will be another important day as Evergrande will be required to pay back interest on its bond. The default is likely according to S&P and it might trigger another sell-off of the global risky assets. Personally, though, I don't think there is much room to go down for Bitcoin.
Please trade safe and mange your position well.
Comment:
Price went really deep into the zone before a 4%+ rebound today.
plan your trade and trade your plan
