#BITCOIN - Debriefing After the Dump

Dump happened and we must accept it. As we said yesterday, we didn’t hold any margin position at weekends, so this dump passed away.

Talking about the current situation, the crucial level is $8420. We broke one with the shadow but now $BTC trades above.

At the moment we consider this dump as a long squeeze, because:

• Monthly bullish absorption is still valid
  
• The bullish trend line wasn’t broken
  
• We gathered a bunch of fuel from triggered stops
  
• There is a giant gap above the price
  

Taking all these facts into account we can say that the priority remains the same - upwards and the first level we need to test is $9500. This level should be tested in any case. If we can’t break it - priority turns bearish.

At the moment we only observe, no position opened on $BTC

Kommentera:

The GAP is truly massive. Upper border at $10050 and the down border at $8800. The price difference is 14.3%.