BTC is losing a lot of strength
Updated
BTC in the short term
I think BTC will make a retest of the 63k to then start gaining some momentum to the upside around 69-73k, I think it will reject at around 73k but anything could happen, this is the market after all, I would like to see BTC breaking above, but we are yet to see how it will behave when it start reaching those levels, we will see when we get there (if we get there)
Rejecting below 73k will prep BTC for a visit to the 50s, my ultimate target will be around 51k But that's too far out in the future, first we have to see what BTC does this coming month.
The reason for this is the market is exhausted and most people is pulling their profits out instead of going long,
I think BTC will make a retest of the 63k to then start gaining some momentum to the upside around 69-73k, I think it will reject at around 73k but anything could happen, this is the market after all, I would like to see BTC breaking above, but we are yet to see how it will behave when it start reaching those levels, we will see when we get there (if we get there)
Rejecting below 73k will prep BTC for a visit to the 50s, my ultimate target will be around 51k But that's too far out in the future, first we have to see what BTC does this coming month.
The reason for this is the market is exhausted and most people is pulling their profits out instead of going long,
Note
I meant a retest to the 61k, its already at 63k, My bad.Its a retest to the 61k
Note
Broke down pennant, will take a few more weeks before it start moving up now. Going up is still on play.
Note
59k did not hold, and it broke down the structure, There is a pump coming due to halving and halving news, make sure you sell the pump get as much tether as possible and wait for a buy signal in the weekly, It will take several months before it gets there.Note
Like I said back in april 30 the pump will happen but it would take longer and that's exactly what happened, BTC hit 71k which is within the target expected, 69-73k right in the middle.Let's now wait for the market to test support 66-67k and 60-63k with a worse case scenario of 56k, for the market to look healthy 63k has to hold.
I will now close this trade and start a new trade when we get to those levels.
Trade closed: target reached
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