BTC is still in a downtrend but there is hope.
BTC is still in a downtrend channel, to get out of the channel is at around 61.3k I think we will see a bit of rejection at those levels.
However on the other hand there is a lot of demand on the 56-67k line which if rejects from 61.3k will serve as a good bed for a reversal.
My idea is to long if it breaks above 61.3k or long after reversal if 56-57k line holds strong.
However on the other hand there is a lot of demand on the 56-67k line which if rejects from 61.3k will serve as a good bed for a reversal.
My idea is to long if it breaks above 61.3k or long after reversal if 56-57k line holds strong.
Note
It held at 57 really strong with a V shape reversal, and it also broke the down trend channel at 61.3k, now is trying to clear the 63-64k line which is also a resistance, I think we will see some rejection at that line around 64k, we might see some sideways with some sell candles possibly even to the 61k line to test support, if 61-62k hold strong then we will see the 66-67k line fill.
I will create a new trade Idea once we touch the 64k line.
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