BITCOIN / BTC / BTCUSD Short Analysis - Downside upcoming??
Updated
There has been some incredible volumes for the upside of btc recently.
An underlying squeeze is coming in and the bottom uptrend support (and 15min 200ema) is an area of interest for us.
If the topside orderblock is not taken out again, I expect the bottomside to be broken.
22.4k is the nearist resting point if the bears prove strong.
Do not have a bias for price and do not fight the current trend. However, the topside OB proves like a tough resistance for BTC to break.
Entries?
If BTC breaks bottomside trend and does not break retest, it may be a valid entry, however use you own knowledge.
As a sidenote, many big institutions have been buying btc in huge amounts and it needs an eye kept on. Do not make trades when they make trades, as I am sure there is manipulation at hand.
An underlying squeeze is coming in and the bottom uptrend support (and 15min 200ema) is an area of interest for us.
If the topside orderblock is not taken out again, I expect the bottomside to be broken.
22.4k is the nearist resting point if the bears prove strong.
Do not have a bias for price and do not fight the current trend. However, the topside OB proves like a tough resistance for BTC to break.
Entries?
If BTC breaks bottomside trend and does not break retest, it may be a valid entry, however use you own knowledge.
As a sidenote, many big institutions have been buying btc in huge amounts and it needs an eye kept on. Do not make trades when they make trades, as I am sure there is manipulation at hand.
Note
Little msb lower breakNote
powerful bottomside resistance - i think ranging in this area for a whileNote
Break incoming - Watch for retest and watch volumeTrade closed: target reached
:]Note
22.6-22.4k is confluent support
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.