#bitcoin nearly completed a full rotation after filling 100% of resistance channel.
In our last TA we highlighted the importance $84k in triggering the reversal — this region turned into resistance during month October, signaling the start of rotation.
Now #BTC price is approaching the upper zone of support channel offering an opportunity to begin closing out the Short Hedge Position.
The targets are below $78k — down to lower base of $71k–$68k
At same time, the advanced Long Position we began building within resistance channel — to protect against increased exposure in hedge should price advance through another subcycle — has an average price near $80k, with new orders to increase the Long Position also beginning to trigger below $78k, with a final target of $71k–$68k.
The goal is to bring the average price of Long Position to $73k–$75k
The primary expectation is that rotation will continue until the support channel is completely filled — at some point. patience is key!
#technicalanalyst #bullish #bearish $BTC
In our last TA we highlighted the importance $84k in triggering the reversal — this region turned into resistance during month October, signaling the start of rotation.
Now #BTC price is approaching the upper zone of support channel offering an opportunity to begin closing out the Short Hedge Position.
The targets are below $78k — down to lower base of $71k–$68k
At same time, the advanced Long Position we began building within resistance channel — to protect against increased exposure in hedge should price advance through another subcycle — has an average price near $80k, with new orders to increase the Long Position also beginning to trigger below $78k, with a final target of $71k–$68k.
The goal is to bring the average price of Long Position to $73k–$75k
The primary expectation is that rotation will continue until the support channel is completely filled — at some point. patience is key!
#technicalanalyst #bullish #bearish $BTC
