BTCUSD - Let Me Break It Down

So there are two types of traders, those that buy and hold long-term... and then there are those that prefer to limit their risk by day trading.

If you're the buy and hold type, this article isn't for you. This is for the low risk traders - the day traders.

So let me break it down for us day traders. Right now, price-action is at a critical level of support. This means if that we get another candle on the daily timeframe that closes below the previous candle, it's likely to break below this critical level of support. At that point, it's also likely that BTC will test the next level of support which is around 25000 as displayed on the chart.

In terms of probability, I would expect further downside at this point. There are no technical confirmations to buy here. When us day traders see risk exposure, we trim loses or hedge positions with the uncertainty.

In my humble opinion, opening up sell hedges to protect any longs at this point is a good idea with targets on the sell hedges around the 25000 handle.

In a nutshell, be careful buying here with this bearish momentum.

Trade Safe - Trade Well