Sive-Morten

19.2K bounce and 17.5K target

COINBASE:BTCUSD   Bitcoin
Morning folks,

Overall action stands relatively quiet,so we have minimal changes since Mon. Overall context remains bearish. Maybe poor NFP numbers only could trigger more or less moderate bounce.

Here we have two targets. First one is 19.2K which could be finalized by minor butterfly with tactical upside response on intraday charts. This is the object for scalp traders, who wants to take long position.
At the same time, bears could try to sell possible rally, aiming on the next 17.5K target.

BTC now has no support at all - major levels have been broken, market is not at oversold. Only previous 20K top works like natural support line and holds the price by far. But it can't last forever.

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