Short video following up on two previous videos, which mentioned sub 9k and the 7k range and why i thought we would see BTC roll over and head down to those areas.
Even though we are seeing a little run up on BTC this morning, I believe it's a bull trap and the 200EMA area will hold as solid resistance. That's not to say we wont see a run/spike up to low 11k, but price in my opinion will roll over and head down to the green zone i just drew on my charts at the end of this week.
I hope you enjoyed... give a like and leave a comment on what you think will happen this week in BTC.
Even though we are seeing a little run up on BTC this morning, I believe it's a bull trap and the 200EMA area will hold as solid resistance. That's not to say we wont see a run/spike up to low 11k, but price in my opinion will roll over and head down to the green zone i just drew on my charts at the end of this week.
I hope you enjoyed... give a like and leave a comment on what you think will happen this week in BTC.
Trade active
I'm thinking this run up is a bull trap... I could be wrong, but i would be very caution with long entries... I believe it could run up all the way to 11700 or so before we see a roll over. Trade active
Would appear a lower high is or has just been put in place. Looking at the 200EMA as next support level and a break should see price action test the upward trendline.
I still believe we'll see a break there and sub 9k is around the corner.
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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.