I'm still holding my BTC LONG positions at 16K, so 32K should be a beautiful number to close them, right? Well.. yes, and no. Can BTC retake the rising channel back? Absolutely yes, or retest it then down. Can BTC retake last swing high? Absolutely yes, then down. Can BTC break through the pink zone? Absolutely yes, a liquidity wick then down.
While BTC indeed went to my first white line and got rejected there, I'm still not convinced that the move down before breaking 32K is over. All thing's pointing south.
Will BTC break through 32K like a paper this time? ..or will it go down much lower first after revisiting 32K, then finally break it in the coming months?
What do you guys think?
What do you guys think?
Comment:
If you play this chart now, I think you'll have a better grasp of where BTC will go next.
A close below 25K might drag BTC down to the purple 200 MA at around 23.5K.
A close below that and BTC might revisit 21.5K or even sub 20K.
A close below 25K might drag BTC down to the purple 200 MA at around 23.5K.
A close below that and BTC might revisit 21.5K or even sub 20K.
NOT A FINANCIAL ADVICE
DO YOUR OWN RESEARCH
YOUR MONEY IS YOUR OWN RESPONSIBILITY
DO YOUR OWN RESEARCH
YOUR MONEY IS YOUR OWN RESPONSIBILITY
I'm convinced that if BTC indeed goes straight up to 32K-34K now, with no movement down prior, it won't break through.