In my last idea (the one before my EW update) linked below I explained why I wanted to see a break of the daily at 39.3k and test the 37.5-38.5k support before we see a nice bounce.
We ended up testing the monthly (38.5k) to the dollar before seeing a nice bounce which is still underway (currently up 10% from the monthly)
Now, we are hitting our first resistance area (weekly + daily + range POC) for a potential rejection.
However, if we end up getting a rejection here, I would still like to see higher prices before seeing a bigger rejection (if we are to get one of course)
The main area that I am looking at is the 0.66 of the fib golden pocket at 44.9k, and as always we will be trading off reactions
If we break it, it would be a nice bullish sign for BTC
If we reject it, good short opportunity in my opinion.
Below us, the main support we want to hold is still the 37.5-38.5k area
Any questions?
Good luck traders
Remember not to break your rules
Habib
We ended up testing the monthly (38.5k) to the dollar before seeing a nice bounce which is still underway (currently up 10% from the monthly)
Now, we are hitting our first resistance area (weekly + daily + range POC) for a potential rejection.
However, if we end up getting a rejection here, I would still like to see higher prices before seeing a bigger rejection (if we are to get one of course)
The main area that I am looking at is the 0.66 of the fib golden pocket at 44.9k, and as always we will be trading off reactions
If we break it, it would be a nice bullish sign for BTC
If we reject it, good short opportunity in my opinion.
Below us, the main support we want to hold is still the 37.5-38.5k area
Any questions?
Good luck traders
Remember not to break your rules
Habib
