Where next for BTC? Stuck in consolidation since June the 22nd, thats 3 months!!!! Price has been stuck between $17500-$25000, we can see it's struggling to break above the $25000 area but it has breached the $20000 level multiple times, this would give me encouragment that we will see a break to the downside. This doesn't mean we enter a trade right this second but with a breakout of the consolidation area marked on the chart i think we would be able to be confident of a move down to the $10000- $12000 area. Why have i chosen this area? We can see fromm the chart there is a lack in liquidity between $12000 and $17000, therfor if a break was to happen this would be the next area where we will see buyers step into the market.
Remember to make a plan
Stick to the plan
Always use a stop loss
Check out your risk to reward
Money management is key.
Remember to make a plan
Stick to the plan
Always use a stop loss
Check out your risk to reward
Money management is key.