BTCUSD DAILY ANALYSIS
Updated
Hello guys, after i did a weekly and longer term analysis of bitcoin that you can go and see i was asked by a friend to do a daily too and i want to share my thoughts with you as well. As it is clear on the chart the momentum of down trend is still very high and the best buyers can do is to consolidate the peice for a while. Now i have 2 senarios, the red senario and the green one. if the price can succecfully break the green tend line price can reach 50K price level but it is so hard to rech it's all time high and even make new all time highs. from my oponion it is like 20% chance of reching 50K 60K levels. And for the red senarion, by considering the momentum of the trend it is so much easy for price to respect the green trendline and break the red one and start a very powerfull downward impulse and reach 24K level. and i belive it has higher chance of happening. I hope you find this analysis helpfull and consider it when trading in lower timeframes.
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The red senario a happening you can open short position on 35K and set TP on 24K and SL on 37.5K
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