Dump BTC
Set aside your bullish bias and look at what the chart tells. BTC momentum is over until it finds a really really good support level. None of the supports near $50000 are holding up now.
Note
The price was strongly rejected around 47000. BTC won't be bullish short/medium term until it finds support around 52000 and makes a new high. Weakness around 52000 will push the price to 42000.Trade closed: target reached
BTC reached the target. I suspect there will be a short pullback to 50000 level then another selloff will drop the price to the 30000 level. The pattern looks more like a rounded top.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.