#BTCDAILY - 20.NOV.21 NOT OUT OF THE WOODS YET
#BTCDAILY - 20.NOV.21
NOT OUT OF THE WOODS YET
We still want to be trading back above $60k before we start jumping for joy although it is looking quite positive.
I feel there will be a bit of a rejection here down to about $57k and then another retest of this $59k area and then hopefully a break out and through the $60k. We are playing on the underside of the 50DEMA which is not ideal.
I would not be taking out too many major long positions just yet or at least until we either get back through $60k or if a little more risky then see a bounce at $57k.
Please don't forget about the bearish scenario here as a break down past $57k could put us on the path the $54k.
Please be careful trading over the weekend.
NOT OUT OF THE WOODS YET
We still want to be trading back above $60k before we start jumping for joy although it is looking quite positive.
I feel there will be a bit of a rejection here down to about $57k and then another retest of this $59k area and then hopefully a break out and through the $60k. We are playing on the underside of the 50DEMA which is not ideal.
I would not be taking out too many major long positions just yet or at least until we either get back through $60k or if a little more risky then see a bounce at $57k.
Please don't forget about the bearish scenario here as a break down past $57k could put us on the path the $54k.
Please be careful trading over the weekend.
