BTC - 20K - DAILY QUICK DASH
Updated
Long Live The King
BTC has had a surge of interest in the past few months, after a decline and fear sell of based on world epidemics such as Covid to name one.
The market has since seen a bullish parabolic rally cry to the highs of 20K area, that has seen investors, traders scramble to make quick profits on the race up.
However we are now seeing a decline in interest, since the clear rejection and refuel, as well as Wall Street BTC news that has brought the market volatility lower.
It is possible that retail may be interested in lower points, and to know this we need to see if the daily starts to slowly break down.
In the meantime we can watch for crucial support elements to see if they hold before further breakdown. When in doubt analyse the macro to see just what the nature of the beast is turning a thunder roar at.
Bull or Bear, we have strong force both sides, and further analysis will be needed to see how low we will be going before entering the critically acclaimed all time highs of the King.
BTC has had a surge of interest in the past few months, after a decline and fear sell of based on world epidemics such as Covid to name one.
The market has since seen a bullish parabolic rally cry to the highs of 20K area, that has seen investors, traders scramble to make quick profits on the race up.
However we are now seeing a decline in interest, since the clear rejection and refuel, as well as Wall Street BTC news that has brought the market volatility lower.
It is possible that retail may be interested in lower points, and to know this we need to see if the daily starts to slowly break down.
In the meantime we can watch for crucial support elements to see if they hold before further breakdown. When in doubt analyse the macro to see just what the nature of the beast is turning a thunder roar at.
Bull or Bear, we have strong force both sides, and further analysis will be needed to see how low we will be going before entering the critically acclaimed all time highs of the King.
- Bearish until 1800 levels
- Awaiting further confirmation
- Bullish trend becoming exhausted
- Potential for need to cool down
- If 1800 breaks without enough force up, it will dump
- Refuel for a 20K push up allows for further time for investors to accumulate
- Always remain flexible
- If 1800 breaks without enough force up, it will dump
Trade active
Update: There will be a push before any further bleed.*There is potential to hit 19300 + area levels before selling continues.
I will indicate this as invalidated based on the force push of buys on 19300.
Note
Potential to retest before down.
Note
As referenced above BTC managed to push above the retest line - We are now waiting for confirmation on the main channel for the daily.
Always have a flexible mindset, never remain biased.
Trade active
The continued breakdown on the 4HR has led to a breakdown in support. If we continue this current movement trend, there will be a continuation of more downside. Entry is everything however, and bulls can indeed retest 19K levels once again.
Note
Bears broke down the daily.
New market cycle.
Trade closed: target reached
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