Hi everyone! I've entered a long on BTC
. I believe there is definitely a possibility of another leg down, but I dont want to miss the train and dont have much time tomorrow to watch it. We are approaching a major intersection here, especially the light blue ray i threw out a couple weeks ago. We are hoping that, and the previous trend resistance will act as support. I could see further retrace down to 7330 or so, maybe a wick down into the 7200s to shake out remaining weak hands. As long as we find some support here, we will validate the bullish divergence
on the 12 hr
chart as well.I will be looking to target at least the purple trend line
, which I imagine will be around 8.8k when it gets there. I opened my lng
at about 7536, so a close at 8.8k will make for a nice profit. Trade at your own risk! Uptrend has not been confirmed!