Opened both long and short positions around 76,000, $BTC . Currently, stop-loss on the short, holding onto the long.
The candlestick didn't break 79,560 decisively, so there's a chance of a 2B fakeout. If it breaks, the 2B pattern will fail.
February's monthly high is 79,400. In previous bear market rebound scenarios, there tends to be a sweep of the previous month's highs before a dip at the end of the month. Plus, the 1.272 level is right at 79,560, only 160 points away from 79,400. So this is poised to be a crucial battleground for both bulls and bears...
The CME futures gap is 79,700—84,000. This is also the important watershed mentioned earlier for trend reversal and the next resistance zone. If we enter and stabilize in this range, the probability of a sustained bullish trend will significantly increase.
—— For reference.
The candlestick didn't break 79,560 decisively, so there's a chance of a 2B fakeout. If it breaks, the 2B pattern will fail.
February's monthly high is 79,400. In previous bear market rebound scenarios, there tends to be a sweep of the previous month's highs before a dip at the end of the month. Plus, the 1.272 level is right at 79,560, only 160 points away from 79,400. So this is poised to be a crucial battleground for both bulls and bears...
The CME futures gap is 79,700—84,000. This is also the important watershed mentioned earlier for trend reversal and the next resistance zone. If we enter and stabilize in this range, the probability of a sustained bullish trend will significantly increase.
—— For reference.