Hi,
I have exited my late long positions (29K) at the 38K resistance level.
Took small position Short (Trend is super bullish) at 37.5K SL 38.6K
BTC has hit the upper bound of the monthly Bollinger bands.
A retracement to its 20-day moving average is possible, but I foresee a more severe correction towards 19K, allowing the Bollinger bands to compress again and a period of re-accumulation to become possible.
As a result, BTC would also retest Wyckoff BO structure from January 2023.
I have exited my late long positions (29K) at the 38K resistance level.
Took small position Short (Trend is super bullish) at 37.5K SL 38.6K
BTC has hit the upper bound of the monthly Bollinger bands.
A retracement to its 20-day moving average is possible, but I foresee a more severe correction towards 19K, allowing the Bollinger bands to compress again and a period of re-accumulation to become possible.
As a result, BTC would also retest Wyckoff BO structure from January 2023.
Average short 38K