Bitcoin, Second Fake Bounce Before Dive!
Hello trader Today I have prepared a new idea for you. Like and subscribe to the channel there is a lot of useful information✅
A few thoughts on the Bitcoin chart.
From the technical side:
The chart showed an approximate plan for a rebound before diving lower, at the moment Bitcoin is at a strong local support of $ 16,700-16,650, I do not exclude the possibility that we can see a rebound already from the current values.
There is also a possibility that the asset may fail the support of 16,700 and test the local range of $16,150-15,900 shown by gray lines on the chart.
In general, as you already understood, I am waiting for a reaction from strong levels, the chart is currently just frozen in place and we can only wait, either they will sink even lower, or a rebound from the current ones.
What about the position when you plan to close?
Guys, everything is unchanged in terms of position, I continue to hold from $17,900 and do not plan to close it yet. I think it will not do without collecting liquidity from above, there will be a rebound, but it can be insignificant as a simple manipulation with a subsequent dive. If there are changes in the position, I will definitely let you know
Guys special attention! This update is not a call to open a LONG/SHORT position, but a simple update of past ideas. If you have not entered or are out of position, then I recommend just taking a break from transactions, very soon there will be new entry points for positional trading.
A few thoughts on the Bitcoin chart.
From the technical side:
The chart showed an approximate plan for a rebound before diving lower, at the moment Bitcoin is at a strong local support of $ 16,700-16,650, I do not exclude the possibility that we can see a rebound already from the current values.
There is also a possibility that the asset may fail the support of 16,700 and test the local range of $16,150-15,900 shown by gray lines on the chart.
In general, as you already understood, I am waiting for a reaction from strong levels, the chart is currently just frozen in place and we can only wait, either they will sink even lower, or a rebound from the current ones.
What about the position when you plan to close?
Guys, everything is unchanged in terms of position, I continue to hold from $17,900 and do not plan to close it yet. I think it will not do without collecting liquidity from above, there will be a rebound, but it can be insignificant as a simple manipulation with a subsequent dive. If there are changes in the position, I will definitely let you know
Guys special attention! This update is not a call to open a LONG/SHORT position, but a simple update of past ideas. If you have not entered or are out of position, then I recommend just taking a break from transactions, very soon there will be new entry points for positional trading.
Related publications
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.