We can see 16.2-16.8k is a significant long term support line to consider and also we know the indicators in the high TF's do not support a big drop into distribution (10k area) YET
So this is likely a smart money play, shaking out retail along the way down/chopping up the bear market.
Look for longs in the 16.4-18.4k area optimally but lone can use low leverage and DCA/stagger your orders will work well.
Look to short 21.3-21.5k as we see the white lower BB turn into resistance at which that will send price shooting lower. Can also short near 21k with medium leverage to play safe.
manage your risk accordingly.
Asset Mastery
So this is likely a smart money play, shaking out retail along the way down/chopping up the bear market.
Look for longs in the 16.4-18.4k area optimally but lone can use low leverage and DCA/stagger your orders will work well.
Look to short 21.3-21.5k as we see the white lower BB turn into resistance at which that will send price shooting lower. Can also short near 21k with medium leverage to play safe.
manage your risk accordingly.
Asset Mastery
Comment:
After some further price movement and looking through all TF's i am on the side of 16200-16800 for the absolute bottom hit (certainly on futures, perhaps higher on spot)
