Last week I said that if price breaks the ascending TL then to look for sells down to our zone. It looks like BTC will fall very soon. If so ill be looking for entries on the lower tf's.
Pretty straight forward. Will be looking for break of counter trend line. Once that occurs will need to see price break and close below 28k. If the trend line breaks with lots of bearish momentum, then I will take sells immediately. But if it breaks with little bearish momentum, then I will wait for price to break 28k for a lower risk trade.
This 12hr chart of bitcoin pretty much sums up where I think it's heading in the next coming weeks or even months. Either direction is a win but currently where bitcoin sits seems like a danger zone for me personally. I will not be making any large crypto purchases, if any at all, while btc is sitting between this zone. If it falls, I see it declining to 20k and...
This trade is based on the daily trend which is bearish. Waited for the counter trend to end which it looks like its ready to fall. Now looking for a break and close of 4hr candle to close pass the counter trend line that was drawn.