Hi guys,
Full TA in the video as usual. Some notes:
Remember to hit the BOOST. Every boost/like is appreciated.
I've just done a quick video update on Bitcoin following on from the previous video. I believe we have confirmed the bearish retest as Bitcoin got rejected by the 236 fib level and possibly the 200 SMA on the weekly timeframe. In my opinion, we are now looking at potentially hitting the measured move which is in the area of 23200.
The concern for me, if we do hit the measured move, is that Bitcoin puts in a lower low and confirms a new downtrend. There are also key support levels in and around 23200 that Bitcoin will need to hold to avoid potentially testing the lows. These areas are covered in the video.
I would say trading conditions are very difficult at the moment and we just need to wait a little bit longer for that opportunity to present itself. Patience is required right now as the opportunity will come.
One thing I mentioned at the end of the video (should Bitcoin move upwards) is to be very cautious of putting in a lower high. Alarm bells need to be ringing if this happens.
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Thanks
SIMON BPOI
Full TA in the video as usual. Some notes:
Remember to hit the BOOST. Every boost/like is appreciated.
I've just done a quick video update on Bitcoin following on from the previous video. I believe we have confirmed the bearish retest as Bitcoin got rejected by the 236 fib level and possibly the 200 SMA on the weekly timeframe. In my opinion, we are now looking at potentially hitting the measured move which is in the area of 23200.
The concern for me, if we do hit the measured move, is that Bitcoin puts in a lower low and confirms a new downtrend. There are also key support levels in and around 23200 that Bitcoin will need to hold to avoid potentially testing the lows. These areas are covered in the video.
I would say trading conditions are very difficult at the moment and we just need to wait a little bit longer for that opportunity to present itself. Patience is required right now as the opportunity will come.
One thing I mentioned at the end of the video (should Bitcoin move upwards) is to be very cautious of putting in a lower high. Alarm bells need to be ringing if this happens.
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- This is not trading advice.
- Thanks for taking the time to watch the video.
- Be patient and stick to your strategy!
- Please hit the boost button if you like this update.
Thanks
SIMON BPOI
BPOI - CRYPTO TRADING GROUP