I expect we continue from my previous idea here:
What we're looking for is a nice bear trap down to the .382 fib. I expect us to break 3500, but it's very important that it's not for a long time. If we stay under the .382 for more than 24 hours, I will be closing longs, and looking for entries around the 2.8-3k level.
However, a drop past the ~3350 level is very unlikely. There is an abundance of buy support at the 3.1, and even more at sub 3k level that will very likely not get filled. We are using the support from those areas as cushion for another push up.
I believe if we see another bounce past 4k, from any level, real FOMO will start and we should be seeing north of $5k btc, but I will not be underestimating the FOMO bulls, they could take it much higher.
Good luck to all.
What we're looking for is a nice bear trap down to the .382 fib. I expect us to break 3500, but it's very important that it's not for a long time. If we stay under the .382 for more than 24 hours, I will be closing longs, and looking for entries around the 2.8-3k level.
However, a drop past the ~3350 level is very unlikely. There is an abundance of buy support at the 3.1, and even more at sub 3k level that will very likely not get filled. We are using the support from those areas as cushion for another push up.
I believe if we see another bounce past 4k, from any level, real FOMO will start and we should be seeing north of $5k btc, but I will not be underestimating the FOMO bulls, they could take it much higher.
Good luck to all.
Comment:
I will be shorting this bounce, good luck to all.
