R.ACEACEACE #BTCUSD #BITCOIN #BTC $20,000 or $6000 Support. BEAR

I believe the top is in and the price will head lower to test support at $20,000 in the coming weeks. If $20,000 support is broken, I believe price will eventually continue to test $6000 support, though it may require time.

If the price moves to a new high, this analysis would be invalidated.

As mentioned in my last idea, I have already exited the market.

Resistance: $42,000, $40,112

Support: $20,000, $6000


On the lower timeframe, I may look for a long trade only if the price exceeds the dotted red line at $40,112.

My intention is to wait and stay flat. If my analysis proves me right, I will short this on the way down. I tend to use my bigger picture analysis to trade the lower timeframes.

What I did yesterday was essentially a risk-management operation because I understood what the stakes were.

Please do your own analysis, responsibly manage your risk, and stay safe.

Thanks for hitting the like button!

Comment:

Please see long bias:

I am currently not in a trade and I do not believe it is a good idea to open new shorts at the current price level.

Comment:

Please also see my breakout trade plan. To confirm, I am not in any short position. i had scalped some amazing short trades but all have been closed in profit. Currently I believe the bulls may be preparing a breakout:

Trade active:

BTC appearing bearish. Bulls pulled a fakeout. I will be assuming bearish bias from here