BTC Papa Bear mode on
At present, we have a lot of longs closed in the footsteps, as well as the liquidation of marginals. The percentage of fear is currently at a high level, and few people want to buy.
In the current situation, consolidation occurs, an upward rebound is possible (impulse correction), and then further with the greatest likelihood a repeated wave of decline will occur around ~7500-7200$.
Next important level is support zone 2018 ~5800-6500$.
Worst case scenario if the price back to major trendline ~4800-5500$.
Bearish scenario will be invalidated if break up and stay above descending trenline.
Every deep create good buying oportunity :)
In the current situation, consolidation occurs, an upward rebound is possible (impulse correction), and then further with the greatest likelihood a repeated wave of decline will occur around ~7500-7200$.
Next important level is support zone 2018 ~5800-6500$.
Worst case scenario if the price back to major trendline ~4800-5500$.
Bearish scenario will be invalidated if break up and stay above descending trenline.
Every deep create good buying oportunity :)
Trade closed: target reached
After 4 tests of support for 7800, the expected breakdown of this level occurred, the price reached the indicated support of 7400-7500 and the drop stopped.Trade active
Note
Worst case scenario! just happened
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Related publications
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.