BTC going to retrace but short term target is $50k
BTC has had a hell of a 48 hours.
It's time to rebalance and retrace. We can expect margin and levered accounts to sell their positions and take gains.
I have highlighted the area where it makes sense to re-enter into BTC. $40k and below.
With all of the momentum going right now, higher lows being set on long term charts, I expect to see BTC at least around $45k after this new higher low.
Check out some of my other ideas on assets that made nice runs recently.
It's time to rebalance and retrace. We can expect margin and levered accounts to sell their positions and take gains.
I have highlighted the area where it makes sense to re-enter into BTC. $40k and below.
With all of the momentum going right now, higher lows being set on long term charts, I expect to see BTC at least around $45k after this new higher low.
Check out some of my other ideas on assets that made nice runs recently.
Comment:
interestingly enough the reversal is happening halfway through the four hour period started at 11am, lets see if BTC can break the top trend line
Comment:
definitely broken now, I would look for swing traders and short sellers to step in soon
