Bitcoin broke down from the range, heading towards buy zones
Chart is self-explanatory. It's very choppy and impossible to trade. Most high-lev trades are getting stopped out and/or liquidated.
I'd be short or sitting out in FIAT. These two zones look good for a reversal. Trending below 20MA and 200MA on daily atm, so the trend is in favour of bears. No reason to long below 200MA unless a V-shaped bottom occurs or there is some significant change to the structure. This is just heading down regardless of what bulls say. Could be a massive ABC down to around 6.5K but I'd rather not see that scenario materialise.
I'd be short or sitting out in FIAT. These two zones look good for a reversal. Trending below 20MA and 200MA on daily atm, so the trend is in favour of bears. No reason to long below 200MA unless a V-shaped bottom occurs or there is some significant change to the structure. This is just heading down regardless of what bulls say. Could be a massive ABC down to around 6.5K but I'd rather not see that scenario materialise.
Comment:
Target 1, (buy zone 1) tagged on Bitmex.
Trade closed: target reached:
TARGET REACHED. PINPOINT PRECISION. Waiting for reversal confirmation.
Trade closed: target reached:
2nd target reached. Correction complete.
