the stoploss is at 2.60 which is yesterday's target, if price turns back from here we could get an extension down. The overall structure is bullish. I've just checked the 2 hrs time frame it shows that the bounce happened at its 38% which is a sweet zone for bounce. MY reasons to play long is that there's more growth opportunity than the decline probabilities from...
Here is my schema of the current price action on Bitcoin. I think we may see price visiting higher prices to tap into the clear supply zone above. If price taps into it and breaks structure to the downside (represented by thick black arrow), then we may be in for a sell trade if price gives us retrace to a supply zone.
Bitcoin just tipped 50k$ and the market is indecisive.
The trading volume for HARD is currently very low, so buyers are not trying to hold any levels now.
This and the fact that we have an untested supportline around 1$ looks very tempting to place an order around 1$ for a sweetspot entry.
So shortterm I could see a dip while I am bullish in the longterm.
Enjoy...
ThorChain (RUNE) could be the next backend for Binance and is, if this becomes true, poised to go upwards.
Shortterm I am looking for a sweetspot-entry around 2.5$.
The volume dropped slowly but consistently while the price rose. --> Bearish divergence.
Also, the previous resistances were not really challenged to hold as support so far.
Enjoy the ride and don't...
