We notice that BTC is currently in the process of testing a confluence of support features on the 1D chart:
1) descending trendline (drawn across previous years highs - thick black line)
2) EMA100 (we use EMA100 to define bull/bear markets)
3) horizontal support at 10500
Overall, I view it as a good opportunity to add to the long position targeting 13k-15k
for weak-handed leveraged trades we can place stop loss below 10500
for stronger-handed spot trades we can place stop loss below 9000
1) descending trendline (drawn across previous years highs - thick black line)
2) EMA100 (we use EMA100 to define bull/bear markets)
3) horizontal support at 10500
Overall, I view it as a good opportunity to add to the long position targeting 13k-15k
for weak-handed leveraged trades we can place stop loss below 10500
for stronger-handed spot trades we can place stop loss below 9000
