People are getting pretty bearish this week, and markets are approaching big levels (DXY approching resistance, S&P500 approaching liquidity)
On BTC, I'm looking for a move down to take the lows and see if we get a reaction (as shown on my chart).
We have some support at 18.7k (which is offering a bounce now), and we also have confluence at 18.2-18.4k.
However, I'm more interested in a fakeout to the downside first to look for longs.
If we bounce from here, I can always long higher on a sign of strength, first bullish sign would be reclaiming 19.8k
If we move down and get no bounce, we can expect much lower prices.
Any questions?
Good luck traders
Remember not to break your rules
Habib
On BTC, I'm looking for a move down to take the lows and see if we get a reaction (as shown on my chart).
We have some support at 18.7k (which is offering a bounce now), and we also have confluence at 18.2-18.4k.
However, I'm more interested in a fakeout to the downside first to look for longs.
If we bounce from here, I can always long higher on a sign of strength, first bullish sign would be reclaiming 19.8k
If we move down and get no bounce, we can expect much lower prices.
Any questions?
Good luck traders
Remember not to break your rules
Habib
