BTC looks like it's forming up for a breakout in the middle of the demand zone.
While it could break down, this looks like a fairly bullish structure despite the macro news.
I'm still eyeing 14k as a bottom area but I believe we may see a run up into the weekend to 21k or so.
I'd probably 2x long it here or buy on spot and be able to cover a draw down into the 14k or 6-8k area if you want to hold it or else assume a snap below 18.8k is bad news. 18k, 14k and 9.8 k to me are potential targets of a market bottom. I believe the bottom will be earlier than we think, and so I'm actually eyeing this level as a potential bottom.
Structure looks bullish to me tho.
Stay safe.
While it could break down, this looks like a fairly bullish structure despite the macro news.
I'm still eyeing 14k as a bottom area but I believe we may see a run up into the weekend to 21k or so.
I'd probably 2x long it here or buy on spot and be able to cover a draw down into the 14k or 6-8k area if you want to hold it or else assume a snap below 18.8k is bad news. 18k, 14k and 9.8 k to me are potential targets of a market bottom. I believe the bottom will be earlier than we think, and so I'm actually eyeing this level as a potential bottom.
Structure looks bullish to me tho.
Stay safe.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.