69.3-69.5K is a key to the next direction

Oct 28

Morning folks,

So, last time we said to not hurry up with the new long entry and then BTC has re-tested our 65.5K support area where we got nice long entry earlier.

At first glance BTC looks nice bullish performance, but it is clearly slowing. D. Trump crypto programme has done its job and totally priced-in. Its impact is exhausting. If D. Trump will take the office we could get jump in a moment, but it mostly will be a psychological reaction.

Now we would say that both directions have approx. similar chances. We have bullish and bearish patterns on different time scales. Thus, we suggest that 69.3-69.50K area will be the key to the next stop.

Upside breakout will lead BTC to action above 70K+ while "222" Sell, if it will work, probably will trigger deeper downside retracement.

So, make your bets with this issue in mind.