Looks like I somehow posted my last BTC idea twice, my bad. Anyway, BTC finally broke below support around $60k and then the major area around $59.3k. It is still holding on to the previous low it made earlier in the year for now, but if it breaks lower my first target would be demand around $50k - $52k. There's also another major demand area ending around 
48K, so it seems like a lot of buyers to get through if it's gonna sell off any further than that. However, BTC can be a slippery slope.
48K, so it seems like a lot of buyers to get through if it's gonna sell off any further than that. However, BTC can be a slippery slope.Note
As expected, the sell off has escalated quickly after finally breaking below $59k. It could hit demand sooner rather than later and I'd expect at least some sort of bounce there. It may end up being a longer term bottom, or it might come back down soon after, but it should bounce there either way. If not, that's pretty scary for bulls if you ask me.
You reap what you sow.
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Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
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Disclaimer
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You reap what you sow.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Related publications
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.