Without a recovery wave above $44,600, BTCUSD will likely continue to fall. For now the price will swing back and forth around the $42,000 pivot point and the shorts are still active. BTCUSD price will expose more shortcomings if it fails to recover to higher price levels and we have reason to believe that the short-term price action will be less than ideal.
Possible scenarios
1) Price rallies to around $44600 and we choose to go short with a target of $35000-37000;
2) Price drops quickly at the pivot point of $42,000 to around $37,000.
earlier analysis
Possible scenarios
1) Price rallies to around $44600 and we choose to go short with a target of $35000-37000;
2) Price drops quickly at the pivot point of $42,000 to around $37,000.
earlier analysis
Trade active:
Trade active:
Trade closed: target reached:
Price rallies to around $44600 and we choose to go short with a target of $35000-37000
Price rallies to around $44600 and we choose to go short with a target of $35000-37000
