BitcoinLong
Between 2 Major Support Zones
I posted 5 days ago that BTC must break above 59600 to trigger a buy frenzy. However, BTC remains weak since. Now price is hovering between the 2 support levels and is not a strategic area to put any buy order here. Note, the bullish sentiment is still valid as long as price stays above 41k. This is based on Elliot wave rules. If price continues to slide lower, I plan to add at the 51k support level. On the other hand if BTC finds strength in next couple of days and pushes above 59600, then my order will be there. Stop loss ~41k where the bullish expectation is invalidated. No hopium or hype opinion here.
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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.