Bitcoin near-term plan
On Monday 27.03, we considered the technical situation on the chart, when the price was near the lower border of the sidewall, and I advised to buy with stops under the minimum and the targets in the middle of the sidewall and the upper border, in general, this idea worked out and depending on your entry and exit point, the profit is from 5 to 8%.
Yesterday the price went to the upper boundary and made unpleasant false-break, then the decline started and continued on the macro GDP data, which was worse than the forecasted.
Today, the PcE (Basic Consumption Price Index) data is also coming out, the publication of the data may also rock all markets indices and crypto among others.
At the moment, there is nothing interesting happening on the chart. The strong support is 27700-27800, where the price is now, but most likely, it will be broken through and the price will go to 27K again.
It is unclear, if the price will hold the support, or the price will go lower to the liquidity area of 26 and 25 thousand; the unpleasant thing is reduction of volumes, not a good sign, but if the false breakdown of 27000 area is a good sign, the plan of actions is to buy with stop below the minimum again, if the price will go down, it will be necessary to examine the situation after the price stop.
If the price is sideways, it is not a good idea to buy inside the sidewall.
Support for the author of the subscription ✅ and start rocket 🚀.
Good luck and profit to all.
Yesterday the price went to the upper boundary and made unpleasant false-break, then the decline started and continued on the macro GDP data, which was worse than the forecasted.
Today, the PcE (Basic Consumption Price Index) data is also coming out, the publication of the data may also rock all markets indices and crypto among others.
At the moment, there is nothing interesting happening on the chart. The strong support is 27700-27800, where the price is now, but most likely, it will be broken through and the price will go to 27K again.
It is unclear, if the price will hold the support, or the price will go lower to the liquidity area of 26 and 25 thousand; the unpleasant thing is reduction of volumes, not a good sign, but if the false breakdown of 27000 area is a good sign, the plan of actions is to buy with stop below the minimum again, if the price will go down, it will be necessary to examine the situation after the price stop.
If the price is sideways, it is not a good idea to buy inside the sidewall.
Support for the author of the subscription ✅ and start rocket 🚀.
Good luck and profit to all.
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