BTC is currently in a consolidating stage with little momentum and I believe BTC is still bearish as per my current position in the previous post below:
We have just entered into a month(June) where BTC had been bearish for the past 3 years however my TA is showing some signs that it will bounce at the 24k price region as circled in green with 2 major confluence acting as Support/Demand Area.
1. Order Block from mid March
2. Support from descending Channel
This is considered a short-term trade where I will be starting to take profits early and wait for a clear sign that BTC is Bullish before going for a long-term long position.
Any clear break above the descending Channel will negate this idea.
We have just entered into a month(June) where BTC had been bearish for the past 3 years however my TA is showing some signs that it will bounce at the 24k price region as circled in green with 2 major confluence acting as Support/Demand Area.
1. Order Block from mid March
2. Support from descending Channel
This is considered a short-term trade where I will be starting to take profits early and wait for a clear sign that BTC is Bullish before going for a long-term long position.
Any clear break above the descending Channel will negate this idea.