Bitcoin (BTC): 2 Possible Entries For Bitcoin Short!
The new week is here, and we see immediately some kind of small recovery happening after a failed attempt at breakout, where the price is now testing again on the upper side of resistance.
Despite the small bounce at the beginning of the week, we have not changed our minds about a downward movement happening here. And to make it even more clear, we set 2 possible entry zones for Bitcoin short setup, where both will be active only once we secure those zones of $65000 and $60500.
The second entry is the main one we are looking for!!
Swallow Team
Despite the small bounce at the beginning of the week, we have not changed our minds about a downward movement happening here. And to make it even more clear, we set 2 possible entry zones for Bitcoin short setup, where both will be active only once we secure those zones of $65000 and $60500.
The second entry is the main one we are looking for!!
Swallow Team
Comment:
What a nice movement we had from Bitcoin after yesterday's fakeout movement to the upper zones, leading the price to break below the local resistance zone.
Now that we are seeing a touch of 100EMA, we are looking for a full-scale break to happen from it, which would result in a good downward move to even lower zones!
Now that we are seeing a touch of 100EMA, we are looking for a full-scale break to happen from it, which would result in a good downward move to even lower zones!
Comment:
The first target has been reached, which resulted in a nice 13% market price movement from the local top (the new ATH).
As the price has stopped near $60K, we are looking for some kind of small recovery to happen here, but no further than $64K. After that, we want to see another attempt to break that local $60K zone and fully secure that zone there, which would result in a movement to $50K (where the majority of the market is lying as of now).
As the price has stopped near $60K, we are looking for some kind of small recovery to happen here, but no further than $64K. After that, we want to see another attempt to break that local $60K zone and fully secure that zone there, which would result in a movement to $50K (where the majority of the market is lying as of now).
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As it is just the beginning of the week, we need to be cautious here, but as of now, we see a good chance of touching (soon) the lower first target zone here.