AlgoAlpha

Bitcoin LTF play, here are possible paths the price can take

Short
MEXC:BTCUSDT.P   BTC / Tether PERPETUAL FUTURES
Our Medium Term Trend Model has gone bearish recently, and current price action also confirm that the market is currently bearish. Using our Peak & Valley indicator for levels and the Liquidity Weighted Moving Averages for trend analysis, we have determined 4 possible price paths BTCUSD can take over the next few days:

1) retest 42.6k and dip to 38k
2) retest 42.6k, dips below 40.5k before retesting and going to 38k
3) retest 41.8k and dip to 38k
4) retest 41.8k, dips below 40.5k before retesting and going to 38k

Should any of these possibilities play out, remember to use confirmation from other forms of analysis such as reversal or sensitive indicators to confirm price is rejecting those levels

🚨Get premium: algoalpha.io

🛜Get FREE signals: discord.gg/xCmqTVRexz

❓Do you have feedback or indicator ideas? Join our server to tell us about it: discord.gg/xCmqTVRexz
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.