BTC Pullback, Road to 50k
Simple trading - Lower lows and lower
Key idea: If BTC can hold below 67k, this would create a lower high. A potential major SELLOFF
BTC is currently trading in a bear market on the smaller timeframes. With the BTC halving on the way, it's clear as day that BTC will not hold above 70k.
So to capitalize on the 3rd red weekly candle, we are looking to see if BTC will make one final pullback to the upside. It's fair game for BTC now that we enter the weekend break. if this is a pullback, now is the time to rise. Pay attention to the price level at 67000. This is the final resistance before BTC flies to a new ATH. As long as we reject this level we will continue to SELL.
Currently in a buy at 63258
Stoploss in profit
TP 66900
The SELL (new chart will be posted)
Around 65k-68k seems like a good range for the price to break out. Wait for bearish candles and look to sell
Key idea: If BTC can hold below 67k, this would create a lower high. A potential major SELLOFF
BTC is currently trading in a bear market on the smaller timeframes. With the BTC halving on the way, it's clear as day that BTC will not hold above 70k.
So to capitalize on the 3rd red weekly candle, we are looking to see if BTC will make one final pullback to the upside. It's fair game for BTC now that we enter the weekend break. if this is a pullback, now is the time to rise. Pay attention to the price level at 67000. This is the final resistance before BTC flies to a new ATH. As long as we reject this level we will continue to SELL.
Currently in a buy at 63258
Stoploss in profit
TP 66900
The SELL (new chart will be posted)
Around 65k-68k seems like a good range for the price to break out. Wait for bearish candles and look to sell
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