Price has currently broken out of the falling wedge , which is bearish in nature but a bullish pattern , and is now retesting the broken zone.
We can expect a bullish impulse after this retest. However, it will be best to react to a move rather than enter too early.
There is still a possibility of BTC dipping some more to finally retest ~40k. Alts will follow suit as a result. If you do decide to enter early however, a decent stop would be below the lowest low which pierced the support drawn.
Let me hear your thoughts.
We can expect a bullish impulse after this retest. However, it will be best to react to a move rather than enter too early.
There is still a possibility of BTC dipping some more to finally retest ~40k. Alts will follow suit as a result. If you do decide to enter early however, a decent stop would be below the lowest low which pierced the support drawn.
Let me hear your thoughts.
Trade closed manually:
Should have mentioned each fib is a TP. Price back at breakeven.
These analyses are my personal view on the market.
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).