After a 182% bull run from our most recent low of $3800 its looking like our bullish movement of BTC has come to a short term end. After being rejected off our daily downtrend creating yet another MACRO LH on the daily-weekly TF we are only looking for SHORTS for our most immediate future on BTC.
We will be looking for bearish continuation patterns to form along with weak bullish buyback in order to take IDEAL positions for our BTC short on the 1HR TF,
IDEAL entry for me would be between the 0.5 to 0.618-0.65 Fibonacci ranges,
TP's on the way down we will look left, 7800, 7050 & 6500 all seem like STRONG support levels on the way down.
I will be updating this chart as time progresses, aswell as looking for potential further TP's & re-entry zones if price falls further than current TP's
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We will be looking for bearish continuation patterns to form along with weak bullish buyback in order to take IDEAL positions for our BTC short on the 1HR TF,
IDEAL entry for me would be between the 0.5 to 0.618-0.65 Fibonacci ranges,
TP's on the way down we will look left, 7800, 7050 & 6500 all seem like STRONG support levels on the way down.
I will be updating this chart as time progresses, aswell as looking for potential further TP's & re-entry zones if price falls further than current TP's
LEARN TA! At MBA we teach technical analysis from the basics up, learn to trade with our veteran traders with a community of 200+ other traders;
Link in profile description!