US open in 30 mins. BTC at $71,720. Breakout or fakeout? Here's my play.
New York is waking up. BTC at $71,720.
Failed peace talks. Strait of Hormuz blockade.
Oil above $100.
Here's where we stand:
Key levels right now:
Resistance: $72,000 - $72,500
Support: $70,500 - $70,800
100-hour SMA: Below price (bearish signal)
What I'm watching at the US Open:
🇺🇸 Bull case:
If BTC breaks and holds above $72,000 with volume, shorts get squeezed. Next stop $73,500.
🇺🇸 Bear case:
Weak volume on the push-up? Rejection at $71,800-$72,000 = dip to $70,500.
My play?
Waiting for the 10 am NY candle. No trades until I see which side is lying.
One more thing:
There's a bearish trend line forming at $71,450 on the hourly chart. If that holds, we could see another leg down.
Are you buying the open or watching from the sidelines?
NFA. DYOR.
$BTC $ETH #USOpen #Binance #BTC