As you know, I was short #BTCUSD from the 9100 zone on last week's bounce. We covered that short near 8000 and speculated on a potential bottom at the strongest support level below 8363, which was the 7600-7700 zone. If price doesn't go below 7411.85, the existing 2 month timeframe trend signal will remain active, suggesting price will trend up from here if that's the case. Targets are 42k to 281k by August 2021 for that signal. Hence, the reward to risk at the bottom was tremendous...
In the event of price not hitting 4605 by June, the weekly downtrend signal will have failed. It can also fail if price breaks over 9950 before then, which would trigger a proportional swing but to the upside, which would take #BTCUSD to 21289.75 within 13 weeks since breaking up.
Overall, worth a shot to see if we get the bottom right here. Daily charts will give us other tradeable signals soon, if we did bottom. So there's many interesting opportunities coming. My signals service clients will receive all the tradeable setups on a real time basis, if interested in trying the service free of charge for one month message me.
Cheers,
Ivan Labrie.
In the event of price not hitting 4605 by June, the weekly downtrend signal will have failed. It can also fail if price breaks over 9950 before then, which would trigger a proportional swing but to the upside, which would take #BTCUSD to 21289.75 within 13 weeks since breaking up.
Overall, worth a shot to see if we get the bottom right here. Daily charts will give us other tradeable signals soon, if we did bottom. So there's many interesting opportunities coming. My signals service clients will receive all the tradeable setups on a real time basis, if interested in trying the service free of charge for one month message me.
Cheers,
Ivan Labrie.
