Looking at the btc daily chart it is not hard to see that we have reached major resistance.
As such a pull back is highly likely even if proceeding to higher prices.
Currently BTC is stuck in neutral and at some point is bound to brake either to the upside or downside.
Trading Plan (video explanation will be up shortly)
IF to the upside a first target level is at 39k pull back and second push to a second at 48k.
IF to the down side targeting 23k and then well see.
Being we are in neutral territory like this our current trading plan is to short the high and long the low.
Being we are at the TOP of the range we are in short trade territory and IF price brakes to the upside take the loss and long the retest.
IF price rejects this certainly doesn't mean btc will see 23k or lower rather will likely first retest the value area high at 29500 where it could easily find support and brake to the upside.
IF it is only produces a 50% retrace and rejects we are likely to fall back into the value area to the poc at 28250 and again well see. If it makes it this far next test is the retest of value area high if it rejects probably dump hard.
Trade Well......
As such a pull back is highly likely even if proceeding to higher prices.
Currently BTC is stuck in neutral and at some point is bound to brake either to the upside or downside.
Trading Plan (video explanation will be up shortly)
IF to the upside a first target level is at 39k pull back and second push to a second at 48k.
IF to the down side targeting 23k and then well see.
Being we are in neutral territory like this our current trading plan is to short the high and long the low.
Being we are at the TOP of the range we are in short trade territory and IF price brakes to the upside take the loss and long the retest.
IF price rejects this certainly doesn't mean btc will see 23k or lower rather will likely first retest the value area high at 29500 where it could easily find support and brake to the upside.
IF it is only produces a 50% retrace and rejects we are likely to fall back into the value area to the poc at 28250 and again well see. If it makes it this far next test is the retest of value area high if it rejects probably dump hard.
Trade Well......
