BTC Dump Breakdown!!
BTCUSD
BTCUSDTHi , so as you all know that we are having a significant dump because of different fundamental and technical reasons such as overextending price in a short period of time and bearish news and ...!!
So currently we can't claim that the pullback is over or we will continue dumping , the best thing that we can do is to wait for the market to play it's moves and when we get bullish signals we can get back in and open long positions.
Currently we are in a high traffic area and we have support both from market structures and the 100 D EMA , so if we hold this level we can monitor the price action on lower time frames to look for bullish signals to confidently claim that the pullback is over.
But of we can't hold this level too we will head towards our next support level witch is at 43k to 45k levels . At this level we have 21 W EMA and market structure support . The 21 W EMA is a strong support for BTC market overall and in different bull markets we retest this support many times and it's a normal behavior , so if we get support from this area and shift from lower time frame bearish market to lower time frame bullish market we we will wait till we get one of our valid entry signals and safely open our trades and enjoy the rest of the Bullmarket.
But if we break this level too we can officially say that the bull run is over.
So anyway trade cautiously and if you did found my idea helpful consider leaving a like and sharing your opinions with me by leaving a comment . Thanks ;)
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