BitcoinUpdated BTC Short Term
If BTC fails to hold 56.5 then we see a trip back to the 100MA, possibly a wick to 52k at bottom of ascending channel. Best place to set a long would be if BTC flips 59.8 to support. Close under the trend at 50.4 and we'll likely test 48K. Possible short scenario. 48k would be the next level to watch, lose that and see a H & S play out.
Note
Also, if 59.8 is flipped, I'd target 73kNote
51.6 was hit perfectly today. I think we see attempts to close back above the 100ma at 53-54 and a sideways consolidation and then a break above 56k and a momentum candle towards 59.8, if btc breaks through then up to 61, if no break through then a quick retest of 56 before and then up only.
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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.