In my last idea I told you to watch the weekly at 61.5k and was leaning towards the bearish case.
We broke it and retested it as resistance before getting an impulsive move to 58k
I also said that I don't expect this support area (57-59k) to hold, and I still hold this view as :
1) The reaction doesn't look strong
2) A lot of people are buying the dip
For those reasons I believe BTC is going lower, targets being 54-55k then 51-52k
However, we have to acknowledge that for now the fib golden pocket is holding as support (meaning if you're not in a short this is not a time to short, and if you are in a short this is a take profit in my opinion), if we start moving up and reclaim 61.5k, then we can start looking back for 63-64k
Any questions?
Good luck traders
Remember not to break your rules
Habib
We broke it and retested it as resistance before getting an impulsive move to 58k
I also said that I don't expect this support area (57-59k) to hold, and I still hold this view as :
1) The reaction doesn't look strong
2) A lot of people are buying the dip
For those reasons I believe BTC is going lower, targets being 54-55k then 51-52k
However, we have to acknowledge that for now the fib golden pocket is holding as support (meaning if you're not in a short this is not a time to short, and if you are in a short this is a take profit in my opinion), if we start moving up and reclaim 61.5k, then we can start looking back for 63-64k
Any questions?
Good luck traders
Remember not to break your rules
Habib
