BTC USD perspective:
We saw a small dump to previous ATH as i had mentioned in my last post. I was short from 6.1 and i closed my positions at 5.85k . Right now i sit in fiat and wait for the market to tell me the next trade.
Blue line in between is very critical and that's where major resistance is for bears. If that breaks, 5.2 k is the next target. You might see some buyers getting in at 5.6k but it's small resistance compared to 5.7k( Blue line)
Currently BTC could unhold it's last wave 5th to 6.4-6.5 levels if ATH breaks. I am ready for that as i will go long if ATH breaks. It looks tough as bearish sentiment has started getting momentum. Larger TF are getting bearish. If red support line breaks BTC will confirm huge big correction.
I would observe the market and go long/short based on the lines shown in chart.
Overall on a long trade this market might retrace hard to 4.5k levels for the potential next move up which i believe would be very healthy . This might happen though after the fork.
Indicators are mixed at moment so i am not judging anything based on that.
QUestions are welcome.
We saw a small dump to previous ATH as i had mentioned in my last post. I was short from 6.1 and i closed my positions at 5.85k . Right now i sit in fiat and wait for the market to tell me the next trade.
Blue line in between is very critical and that's where major resistance is for bears. If that breaks, 5.2 k is the next target. You might see some buyers getting in at 5.6k but it's small resistance compared to 5.7k( Blue line)
Currently BTC could unhold it's last wave 5th to 6.4-6.5 levels if ATH breaks. I am ready for that as i will go long if ATH breaks. It looks tough as bearish sentiment has started getting momentum. Larger TF are getting bearish. If red support line breaks BTC will confirm huge big correction.
I would observe the market and go long/short based on the lines shown in chart.
Overall on a long trade this market might retrace hard to 4.5k levels for the potential next move up which i believe would be very healthy . This might happen though after the fork.
Indicators are mixed at moment so i am not judging anything based on that.
QUestions are welcome.
Possible next support