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FieryTrading
Mar 15, 2024 1:12 PM

🔥 Bitcoin Short-Term Reversal Play: Bottom In? Long

Bitcoin / TetherUSBinance

Description

BTC has dropped over 10% in the last two days. In my eyes, the bottom could potentially be in based on the parallel channel drawn on the chart.

Alts took another beating. If this reversal plays out both alts and BTC are in for a treat.

For now, I expect a retest 67.500$. Stop below the recent swing-low and a target at the yellow top resistance.

Comment

Entry hit, moving up quick!
Comments
GlassICE
56k area is the optimum buy level ur too naive to think otherwise
TradingOn
Straight to stop then bounced back, probably too tight SL man.
parmin
usef.khosravi
This is the most correct analize. 👍
TradingOn
@usef.khosravi, seems like it was not.
dhclf2
if break through that parallel channel, Where do you see the support price?
FieryTrading
@dhclf2, 61.5 - 59 would be the most logical.
dhclf2
@FieryTrading, I agree. thank you.
FieryTrading
@dhclf2 cheers
timandersen0
58-53
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