BTC: QUICK UPDATE!!
Updated
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Welcome to the new BTC update.
Finally, after a long consolidation, BTC breaks down the range. It breaks down the important 29.5k support which is holding it for the past 1 month. Currently, it is trading around
29K level.
From here I'm expecting a small bounce up to 29.4k-29.6k which is a perfect bearish retest. After this retest, it again starts falling and might drop up to the 28.2k level.
Invalidation:- If it breaks above the 29.6k level and again back inside the same range then the bearish scenario will be invalidated.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
Welcome to the new BTC update.
Finally, after a long consolidation, BTC breaks down the range. It breaks down the important 29.5k support which is holding it for the past 1 month. Currently, it is trading around
29K level. From here I'm expecting a small bounce up to 29.4k-29.6k which is a perfect bearish retest. After this retest, it again starts falling and might drop up to the 28.2k level.
Invalidation:- If it breaks above the 29.6k level and again back inside the same range then the bearish scenario will be invalidated.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
Comment
BTC is following the projection accurately so far. Currently, it is consolidating below the channel, and expecting it to consolidate more here after that we might see another low.
For a bullish scenario, we need a close above the 29.6k level. If we get a close above 29.6k, then this dump turns out into a deviation, and in that case, expecting another high of BTC. But until it consolidates below the channel I'm not getting much bullish vibes. Till then just doing quick scalps is a good idea.
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