$BTC needs to be watched... We need to see a new structure develop around here to keep our bullish outlook. Right now, we're grinding near some minor resistance.
Trade with caution, plan your moves.
Trade with caution, plan your moves.
Post
Danswitch12306
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$BTC US stocks are on a break these days, liquidity might tighten up, plus the current trend has already broken below the original support trendline.
Here are three scenarios depicted in the chart:
📈Chart 1: Key area at 63100, if it flips up without breaking down, quick recovery at 63100, but facing resistance at 64500;
📉Chart 2: If it flips up at 63100 but the highs and lows are gradually decreasing, there's a chance of a volume spike breaking down the low, leading to a continued downtrend;
📉Chart 3: If the highs and lows are gradually lowering, breaking down the low to grab liquidity and then a retracement, if it fails to rally above 63100, the downtrend continues, but with insufficient volume, it might stall around 61000, where you could consider shorting or going long in that vicinity.
Plan your trades, trade your plan.
Here are three scenarios depicted in the chart:
📈Chart 1: Key area at 63100, if it flips up without breaking down, quick recovery at 63100, but facing resistance at 64500;
📉Chart 2: If it flips up at 63100 but the highs and lows are gradually decreasing, there's a chance of a volume spike breaking down the low, leading to a continued downtrend;
📉Chart 3: If the highs and lows are gradually lowering, breaking down the low to grab liquidity and then a retracement, if it fails to rally above 63100, the downtrend continues, but with insufficient volume, it might stall around 61000, where you could consider shorting or going long in that vicinity.
Plan your trades, trade your plan.