BTC, back bearish?

Hello Friends, Traders and Interested,

BTC showed us a really bullish week. And I was really optimistic, that this could be the entering-point for a big bull attack. I know, my past TAs were most bearish, although I am absolutley not a bear. But the big picture (Week and Monthly chart) was very bearish until April. And still, BTC is not out of new bearish trouble. So as you can see in my 2 - Hour chart, we just fell out of the ascending wedge. Now we have a few good support zones ( see chart). But, if we should break the 2nd support we might go down to around 7800. So lets hope the support zones will hold.

I am not going to open a new long position at this point, until we get back into the ascending channel. As well I will wait to open a short position, because the BTC market and the whales are very dangerous at this time and might play again their tricky games with us.


Okay, as always, no trading advice, just educational.

Trade safe and trade on your own risk.

Yours, Sascha

A Lke and a Follow makes me happy.

Comment:

TA works as predicted. First support tested yesterday, a bit under my line. Now we might break this support in the next few hours. Next stop at around 9000. If this support will break confirmed ( 1 hour candle clearly closing under 9000) I expect an uptrend to around 8400.

Okay, new chart in the following Hours.

Best to ya all, Sascha