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We can see that BTC dumped as expected, now we want to see how price will react at our daily support 44k which is in confluence with the 38.2% of the Fibonacci Retracement.
If we break below it, we should easily see a continuation to 42k-40k which is our next support zone.
For now, as a first step, we should close today below 46.8k (blue area above).
A rejection with volume and our confirmation would indicate a reversal.
For now, we am bearish because we want to see a big drop back to 30s before our big push to the upside, this could happen in few months don't take anything too fast you will loose sight of the big opportunities on higher time frames.
...................................................................................................................................................................................
🔹
What do you think?
Good luck traders,
🔹
Not financial advice
Manage risk and leverage
DYOR
NajjarTrading
🔹
WHY FOLLOW?
• 4 Years of experience
• Daily trades
• Daily updates
• Best Entry Points
• Important Zones
• TP/SL
🔹
...................................................................................................................................................................................
We can see that BTC dumped as expected, now we want to see how price will react at our daily support 44k which is in confluence with the 38.2% of the Fibonacci Retracement.
If we break below it, we should easily see a continuation to 42k-40k which is our next support zone.
For now, as a first step, we should close today below 46.8k (blue area above).
A rejection with volume and our confirmation would indicate a reversal.
For now, we am bearish because we want to see a big drop back to 30s before our big push to the upside, this could happen in few months don't take anything too fast you will loose sight of the big opportunities on higher time frames.
...................................................................................................................................................................................
🔹
What do you think?
Good luck traders,
🔹
Not financial advice
Manage risk and leverage
DYOR
NajjarTrading
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