BITCOIN HEADED TO 50K ? - CRASH SOON ?
Updated
Symbol - BTCUSD
CMP 60700
Bitcoin is testing the previous major liquidity area which is around 59300 - 61000. Earlier it was consolidating around 65K levels & was trading in a range. Now it is witnessing a huge profit booking and declining sharply towards the liquidity area. A retracement towards 62000 - 62500 is likely.
In any case, If it is breaking 59000 level and sustaining below it then it may directly head to 50-51K which is next major support.
A double top pattern is visible on larger time frame. Breakdown of this pattern will lead to trend change/reversal. Hence breakdown of the neckline & sustaining below it will activate this double top pattern & then it will definitely test 51K level & then may touch 45K levels too.
P.S. : I'm actively tracking BTCUSD to make long positions around this liquidity zone to play a retracement & then I'll be looking to short around 62K levels with small SL & will add more position on breakdown of liquidity zone/neckline.
CMP 60700
Bitcoin is testing the previous major liquidity area which is around 59300 - 61000. Earlier it was consolidating around 65K levels & was trading in a range. Now it is witnessing a huge profit booking and declining sharply towards the liquidity area. A retracement towards 62000 - 62500 is likely.
In any case, If it is breaking 59000 level and sustaining below it then it may directly head to 50-51K which is next major support.
A double top pattern is visible on larger time frame. Breakdown of this pattern will lead to trend change/reversal. Hence breakdown of the neckline & sustaining below it will activate this double top pattern & then it will definitely test 51K level & then may touch 45K levels too.
P.S. : I'm actively tracking BTCUSD to make long positions around this liquidity zone to play a retracement & then I'll be looking to short around 62K levels with small SL & will add more position on breakdown of liquidity zone/neckline.
Trade active
CMP 61500Bitcoin slipped to lower end of the liquidity zone and now reversing 2500 points that's the retracement I was talking about. I had taken long positions to play this reversal. Now I'm out of long positions & will watch out the price reaction to 62000 - 62500 area & will try to make short positions with small SL if getting any short setup & opportunity.
Trade active
CMP 62280Time to look for short setup and create short positions!
Trade active
CMP 540008200 points down from my level.
falling non stop.
Trade active
Still struggling at 57-58K levels. Breakdown of recent lows (53-54K) will definitely take it to 50K and below.Trade closed manually
Trading closed on breakout of 58-59K zone.Trade active
BTCUSD CMP 52731. Down 16% intradayLooks like now it's gonna crash further.
P.S. : My short position is active from breakdown of 60300 & now holding with trailing SL.
Trade active
Trade active
Trade closed: target reached
CMP 49200My BTCUSD target 50K reached.
Booking my short position here. Now I'll try to short again around 53-54K level.
What a fall!
60K to 49K within a day!
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