Retest of the trendline
Situation
After profiting from the last short (last BTC analysis), we are in an interesting spot.
Breaking 10k will lead to a massive meltdown, due to the new algo targets created by the move.
Target of meltdown would be 8.2k.
8.2k is
-> the 0.5 fib from the move from 4k to 12.5k
->1.618 target from the move from 12.5k to 9.8k
-> massive support
Right now it looks like we will test 11k and decide from there, if we will continue the dump or choose to move to 13k .
-
Trade
-Long, if we stay above 10k and take profits around 11k (exact selling prices are red)
-Short if we close below 10k and see massive selling volume
After profiting from the last short (last BTC analysis), we are in an interesting spot.
Breaking 10k will lead to a massive meltdown, due to the new algo targets created by the move.
Target of meltdown would be 8.2k.
8.2k is
-> the 0.5 fib from the move from 4k to 12.5k
->1.618 target from the move from 12.5k to 9.8k
-> massive support
Right now it looks like we will test 11k and decide from there, if we will continue the dump or choose to move to 13k .
-
Trade
-Long, if we stay above 10k and take profits around 11k (exact selling prices are red)
-Short if we close below 10k and see massive selling volume
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