BTC - Breakout or Rejection?
Daily Analysis: BTC has finally made it to a crucial level that will decide where we go for the next several months. I will be looking for volume to increase in this area between now and the next few days. Let's see what BTC has in store. Here is my mid to longer term view. Where do you stand?
My Trading Plan:
Long (if):
We breakout with volume and find support above the trend line at 46k-47k area.
Short (if) - (My more probable scenario)
I will be looking for shorts if we get rejected at this 46k-47k area.
The Dollar is continuing to rise. Based on history, when we see the dollar hit highs, BTC hits lows.
*This is not financial advice. Good luck on your trades.*
My Trading Plan:
Long (if):
We breakout with volume and find support above the trend line at 46k-47k area.
Short (if) - (My more probable scenario)
I will be looking for shorts if we get rejected at this 46k-47k area.
The Dollar is continuing to rise. Based on history, when we see the dollar hit highs, BTC hits lows.
*This is not financial advice. Good luck on your trades.*
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