Well all of the previous days hard work was wiped out with a big red candle taking us back down to the lower demand range. BTC has found some support from the bulls at this level but we need to watch carefully to see if it holds. Shout out to @nestorador who made a good call in the previous comments that a limit buy above supply zone would have been a better decision than an early entry. Once again sentiment bias (bullish in this case) is no friend to traders :).
If price falls through this current demand zone I would be expecting the next level to catch price will be around $53200. This also happen to be a 0.5 Fib level from the previous move up.
If price falls through this current demand zone I would be expecting the next level to catch price will be around $53200. This also happen to be a 0.5 Fib level from the previous move up.
