BTCUSD
BTC failed in the rebound. So where is my Lambo?
Keeping it simple
1. BTC tried several paths to cross the downtrend line . But invain.
2. Latest rebound also failed at 0.5 fIb
3. The logical bounce area become 8220- reverse 0.5 area
4. However BTC is again in the perpetual Bear Flag formation excercise.
5. So it might go little far off between 0.618 and 0.5. Potentially around 8117
6. Less likely to hold 8300-835, but if that happens we fight at 8600 again. Will update accordingly.
7. In any case the redline should not be crossed, long term uptrend. That will crush my lambo, we will plunge into a long term bear market
Will update after the bounce, potentially to reasses if we are going to retest 7900~
Trade active:
Convincing Bounce has come , breaking the falling wedge upwards. Typically falling wedges are not very strong for upside. So previous Failure point 9178 to be watched closely. Until them , Lambo Assembly Line is in action