THIS IS NOT A TRADE ADVISE JUST MY THOUGHT TO SHARE WITH YOU
For weeks BTC is taking the down stairs path but if we zoom out in the daily frame a double bottom is forming, based on that view I would say BTC will probably retest the 51K area once closes on the daily/ weekly frame above the resistance line of 43K with a strong candle, otherwise I would consider it a...
This is not a financial idea, I may be wrong, it's only my opinion, you are responsible if you follow my thoughts.
Since BTC topped from ~$6000 low, it's volume shrink and barely get reach ~$11700 resistance. Now in the 04 hours frame we see a double top pattern forming, which is this a strong signal of selling pressure, of course this will trigger panic...
This is not a financial idea, I may be wrong, it's only my opinion, you are responsible if you follow my thoughts.
BTC failed to get the momentum to develop higher targets, so traders will cut their loses now before it too late especially the bad news doesn't stop raining. You can buy in portions at each support(Better to buy at the second support, the first...
Since 11 December BTC trades walks in triangle pattern, this tell us traders didn't decide yet which path to take. If it breaks up, then we can see at least the first target at ~$1880, and if it goes down then we will wait it at ~$14530.
Note:
Bold line means strong resistance/ support, yellow for the 04H frame, brown for the daily frame.
