BTCUSD Perpetual Contract

Reason for the BTC Drop to $29000 and where to from here?

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In yesterday's video I spoke about why I thought Bitcoin could drop back down to $29000.

1. Volume was decreasing with price going up
2. Big longs were opening up at resistance

In today's video I look at where BTC could go to in the next few days and see on the TPO and imbalance charts why price fell like it did.

I am looking for a small retracement back to the POC and if we have strength in that area I will be going long.

TP - back up at $31000 and if we break out, hold the position to $35000.

Have a look at the video for an in depth analysis.

Not financial advice, DYOR. Papertrade before using real money.

If you liked this idea, please give a thumbs up and follow.

Safe trading.
Shawn

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