Btc: Will 8 600 be next or can we expect 9 040 to be the bottom?
Just want to get you guys ready for this next session, if you thought that the waiting was hard and you we're tempted to fomo, this next part wont be easier.
Why?
- 9 260 became an important level of support in the last couple of days, now that it
broke down price action will feel alot more ''Bearish''
- Alot of people are currently looking to take tp around 8 800 and maybe even 8 500.
- Some indicators are looking really bearish on 1h,4h & 1d.
So what do i expect?
From here the break of 9 260 is pretty much confirm, we should see a little pump in the 9 240 - 9 260 area just for a re-test, and then down again.
Like i've said i am mainly targetting 9 040 - 9 080 here for the dump, the order at 9 170 is to be sure we don't miss it (But it shouldn't be your biggest order) and i will add one at 8 965 just in case of a wick.
If you look at the chart you can see that we have a trend line going up that will be use for support, this trendline is clearer if you're looking at the daily timeframe. We have already two major touch and i expect us to see the third one by the end of the day.
So if things look bearish how can we know it's not?
- Cup & Handle pattern, we are in the handle so a drop was needed.
- Break of a major downtrend on 1W and 1M, so a re-test was needed.
- We are in a uptrend on the 1d, unless we lose it, we should continue seeing upside.
So be careful here, i don't want to see All In or 100x leverage, it's a ladder down so not more than 10x - 20x, be patient and you'll get rewarded!
If you want to fallow the trade idea, feel free to click on the link below. You will be re-directed to my personnal group.
Why?
- 9 260 became an important level of support in the last couple of days, now that it
broke down price action will feel alot more ''Bearish''
- Alot of people are currently looking to take tp around 8 800 and maybe even 8 500.
- Some indicators are looking really bearish on 1h,4h & 1d.
So what do i expect?
From here the break of 9 260 is pretty much confirm, we should see a little pump in the 9 240 - 9 260 area just for a re-test, and then down again.
Like i've said i am mainly targetting 9 040 - 9 080 here for the dump, the order at 9 170 is to be sure we don't miss it (But it shouldn't be your biggest order) and i will add one at 8 965 just in case of a wick.
If you look at the chart you can see that we have a trend line going up that will be use for support, this trendline is clearer if you're looking at the daily timeframe. We have already two major touch and i expect us to see the third one by the end of the day.
So if things look bearish how can we know it's not?
- Cup & Handle pattern, we are in the handle so a drop was needed.
- Break of a major downtrend on 1W and 1M, so a re-test was needed.
- We are in a uptrend on the 1d, unless we lose it, we should continue seeing upside.
So be careful here, i don't want to see All In or 100x leverage, it's a ladder down so not more than 10x - 20x, be patient and you'll get rewarded!
If you want to fallow the trade idea, feel free to click on the link below. You will be re-directed to my personnal group.