Built on our last idea looking into BTC, analysis still valid. We are seeing clear direction of movement.
Hourly trend line currently takes us down the slope. BTC failed to hold at $57k support. Now hovering around $55k after a struggle around $56k previously.
Bulls are loosing momentum to touch $58k again and continue up, Bears are forcing their hands down. They appear to be winning this battle.
At this point if $55k area fails to hold we will head down further as indicated in the Red Zone. Bulls must gather more support to push up and bounce from this point towards $57k again for any alternative outcome.
If a candle opens within red zone on chart, I will go SHORT.
Follow 🚶
Like 👍
Share your thoughts!
Hourly trend line currently takes us down the slope. BTC failed to hold at $57k support. Now hovering around $55k after a struggle around $56k previously.
Bulls are loosing momentum to touch $58k again and continue up, Bears are forcing their hands down. They appear to be winning this battle.
At this point if $55k area fails to hold we will head down further as indicated in the Red Zone. Bulls must gather more support to push up and bounce from this point towards $57k again for any alternative outcome.
If a candle opens within red zone on chart, I will go SHORT.
Follow 🚶
Like 👍
Share your thoughts!
