this is my bitcoin idea where i still expect more upside but would trade based on reaction at resistance. at the moment we are still making bullish market structure, going below 60k would make it more bearish
Note
bitcoin keeps grinding down, without clear wave B(short squeeze). 69k is a sell for me and I still want to see the golden trendline hold as support preferably breaching it as a fakeout to trap more bearsNote
Fibonacci time tells me the move is likely to happen today-Friday latestNote
selling volume going down on this dropNote
but longs are going crazy, makes me think we will take the lows here againNote
we backtested the channel into resistance, as long as we are below 62500 we are going down most likely around 44-52k, check my previous trading idea uploaded
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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.