Trendline on the monthly timeframe is respected
Going down to the day, BTC looks like it's poised to retest the month trendline.
However, on the 4 hour, resistance wick is formed below Day support.
2 possible options:
a) Price retest the region of the month's trendline and reverse
b) Price respects day support resist and heads down to
Profit 1 zone: 26020
Profit 2 zone: 25768
Timeframe of strategy playout - 1 to 2 days
Going down to the day, BTC looks like it's poised to retest the month trendline.
However, on the 4 hour, resistance wick is formed below Day support.
2 possible options:
a) Price retest the region of the month's trendline and reverse
b) Price respects day support resist and heads down to
Profit 1 zone: 26020
Profit 2 zone: 25768
Timeframe of strategy playout - 1 to 2 days
Break below day support forming.