BTC's halving is nearer and the price surged +150% from the recent low. However, it has nearly formed a lower high so far and is trading the descending channel top. If 10.5 breaks, I truly believe that BTC is up for a run towards 30K this year-end or next year.
However, if BTC fails, any pullback to 6000 area will need heavy buys to resume the uptrend.
I was stopped couple of times while shorting recent recovery. Now I am patiently waiting for final trend confirmation. Break below 9500 is a confirmation of rejection with a downside test of 8400-8200 and further losses will bring us 7000/below for profit-taking.
Rally above and price breakout of 10.5K will first bring 11800 R1, with an extension to 13800-14000. If that gets broken, 20K will be the final test for another ATH.
However, if BTC fails, any pullback to 6000 area will need heavy buys to resume the uptrend.
I was stopped couple of times while shorting recent recovery. Now I am patiently waiting for final trend confirmation. Break below 9500 is a confirmation of rejection with a downside test of 8400-8200 and further losses will bring us 7000/below for profit-taking.
Rally above and price breakout of 10.5K will first bring 11800 R1, with an extension to 13800-14000. If that gets broken, 20K will be the final test for another ATH.
Trade closed: target reached:
Btc broke below and hits the first support zone and my short. It is now consolidating. As long as 9200 does not break BTC will pullback to sub 6k giving further short.