My stance remains bearish on BTCUSD due to numerous factors. At any case I would not buy bitcoin below yearly Central Pivot Range. Only above yearly CPR and above yearly A-up. What we saw today on 4 hrs was test of the high, some call it bull trap, stop hunt, false break but it is a test of a high in trend change. Price usually moves 5 to 10 % above the last higher high (there was also a minor trendline breakdown on 4 hrs with violation of the higher low).
Now we faced resistance below yearly CPR and 2020 opening range (initial balance), price is likely to reject from this level.
This is my opinion and not financial advise of course.
Now we faced resistance below yearly CPR and 2020 opening range (initial balance), price is likely to reject from this level.
This is my opinion and not financial advise of course.
Comment:
The most conservative DM projection sends price to 3700, opening price of 2019.