We're at a technical level where I'd usually be quite inclined to become bullish again on BTC and buy into the possible butterfly low. However, with us having broken the 161 of the topping swing (Which has not happened in any previous BTC drops - it's quite a unique signal), I am inclined to buck my usual contrarian style and bet on the continued breakout. If we go through the butterfly low, I'd expect to see something some may fund surprising - some sort of sustained move down. First capitulation style, and then the hard grind.
Comment:
This broke. I think we'll see a stronger bear move after this little bounce we had once the break was made.
Trade active:
Short BTC 42,300
Stop 44,800
Target 17,900
Stop 44,800
Target 17,900
