So since i posted the weekly chart of bitcoin falling to hit 10k, you can now see perfect pull back to the 61.8% and 70.7% fib level. Giving us a new bottom of $6610
So how did this happen.
Well this week BTC has finally broken a yearly support which we can now see become resistance at $7150 a strong area to stack shorts in. But i am waiting on a true double bottom of April price around $6300 before a nice bounce up. This is due to the extreme pressure now needed to break up after loosing such significant levels from all year.
the weekly failed to maintain its level and broke down now making the monthly target for BTC looking even worse for the future.
Also we have seen Btc breaking out of its year long TTM squeeze ad broke down represented on my chart in yellow and blue trend lines in the TTM.
all of this compiled together im lookinng to continue my shorting position and stacking up high around 7300 before seeing a new bottom tested at end of this month.
Monthly chart next level is $5950 and $5664 before we could go real parabolic.
plan your trade trade your plan good luck.
feel free to comment and follow the more the better
So how did this happen.
Well this week BTC has finally broken a yearly support which we can now see become resistance at $7150 a strong area to stack shorts in. But i am waiting on a true double bottom of April price around $6300 before a nice bounce up. This is due to the extreme pressure now needed to break up after loosing such significant levels from all year.
the weekly failed to maintain its level and broke down now making the monthly target for BTC looking even worse for the future.
Also we have seen Btc breaking out of its year long TTM squeeze ad broke down represented on my chart in yellow and blue trend lines in the TTM.
all of this compiled together im lookinng to continue my shorting position and stacking up high around 7300 before seeing a new bottom tested at end of this month.
Monthly chart next level is $5950 and $5664 before we could go real parabolic.
plan your trade trade your plan good luck.
feel free to comment and follow the more the better
Trade active:
First major target of $5900 hit
Trade active:
Incoming on the monthly $5664 will we whit it over the weekend and bounce?
Trade closed manually:
Closed trade as btc failed ti hit second target low and now looking to twst 6850 before 7150
