bitcoin market update short rips/rallies tp 23 500 usd

🔸Hello traders, today let's review daily price chart for BTCUSD and potential
reversal zones. We got a weak bounce in progress since we triggered fresh demand
zone near 25 400/500 usd, however limited upside as bulls will face strong overhead
resistances near 29 000 usd / 30 000 usd, therefore I still recommend to short sell
rips/rallies.

🔸On the left I got key s/r zones marked down and on the right speculative ABCD
pattern structure, which is a high probability trade setup. ABCD is defined by
point A at 30 900, point B at 25 500, point C at 29 500 and point D at 23 500 usd.

🔸Currently we are trading at 27 650 usd and no recommended trade at current price,
bears should wait for price to trigger overhead resistance and short sell from resistance.
expecting slow price action as the volatility has been extremely low last 8 weeks.

🔸Recommended strategy bears: focus on short selling rips/rallies near overhead resistances,
best entry from point C (on the right) near 29 500 USD. TP1 bears 25 000 USD TP2 bears
is 23 500 USD / final exit near point D close to 23 500 USD. good luck traders!

🎁Please hit the like button and
🎁Leave a comment to support our team!

RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.

Comment:

short-term expecting more gains before
reversal from overhead resistances

Comment:

also very low volatility recently. will take time to
trigger overhead resistances.

Comment:

btcusd 8h bullish 3drives buy/hold 25% gains