Bitcoin [BTCUSD] - Levels to watch - Bearish at the moment
Most of the information is in the chart.
We need to consider 2 things:
1st: We will hit 10-10.4k again if strong bulls and tired bear might even stop at 10.8k (but i doubt so). If the bears are strong and we close a candle below 10k I would say we are going down, highly possible target is 8k.
2nd: if we get a good rebound from 10k-10.8k and break 12k on the way up and with strong momentum break the Master downtrend line - I would go long on Bitcoin from there, levels to watch in this stage is 13.2-14.4k.
We need to consider 2 things:
1st: We will hit 10-10.4k again if strong bulls and tired bear might even stop at 10.8k (but i doubt so). If the bears are strong and we close a candle below 10k I would say we are going down, highly possible target is 8k.
2nd: if we get a good rebound from 10k-10.8k and break 12k on the way up and with strong momentum break the Master downtrend line - I would go long on Bitcoin from there, levels to watch in this stage is 13.2-14.4k.
Comment:
Also watch out for 11k Support which was a previous strong resistance.. If tried and didnt break in few hours, then I will enter
Trade active:
We should launch upside soon given the trigger being CME futures termination. So get ready, this is also your last chance of entry
1: identify double fat candles 1 in red 1 in green (for upward movement).
2: a huge pinbar where the peak is pointing downward.
for both scenarios check previous reversals :)