hi, bears took complete control of the market. and weekly got below the start of this bull cycle confirming the end of the bull run.
if we got a bounce here from 67-68k as a temporary bottom, it could give us opportunity in the future maybe next week's to enter shorts but so far market is in extreme fear in shorter time frames, so not recommended to enter now.
big crash for crypto, as major support levels been broken where will it close this weekly is crucial. the big volatility happened at the weekend which didn't have big support to hold it.
Hello, so far crypto moving side ways no real changes happened.
Currently I'm waiting for the big move to come to use it as a new entry point: I see we got a nice chance for bigger drop to early 80s potentially, if happened by this week we can use it as a strong entry and Hold till the mid 90s as first tp would be 94k then 97.5k this is the likely scenario, and I'm just waiting for the entry to be worth it as a big dump could be around the corner before moving up to higher targets again.
Other scenario we go up a little more now to get rejected again and fall hard to 78k~ before giving a recovery so be prepared.
-My next trade: I prefer to stay on the side now just wait for the dump to happen then enter at good prices avoiding big risks.
Market update in general: we are still bearish in weekly time frame, and high chance bull market ended.
But the Good news is we still have a chance of a last retest hitting near 100-102k before the big crash continues and bears take over the market. so let's just be prepared.
Cool, we got a quick full recovery actually after we hit near 83k area.
But a little drop after such fast movement could happen so I advise to take part for profits now if you been holding in case a drop occurred and re purchase later at a lower price.
Rest keep for higher targets in case we stay at this level and break 93k. I will update you.
We did hit the 93k mark for BTC, which is our next resistance as we discussed, and got rejected.
I expect to see a second try to reach near that level by next week:
1) if we could sustain it and continue strong we can break it and become bullish by daily and get new higher levels eventually.
2) if we fail it again and potential hard drop back to the 80s again probably 82-83k area is likely.
RealTrader_17
·
--
Next resistance area for BTC to watch for-> 93-94.5k if we break it we can exit daily bearish trend and re entr bullish again. but we may get rejected there so I advise to take some profits and exit part of your position just in case.
Next resistance area for BTC to watch for-> 93-94.5k if we break it we can exit daily bearish trend and re entr bullish again. but we may get rejected there so I advise to take some profits and exit part of your position just in case.
we have a chance if we reclaimed 88k, to get back to 91k then ~94k area of BTC.
but things could flip by tomorrow and they aren't final yet. as traditional market lost important support last week, if it stayed strong things could be in favor for crypto.
but be prepared for the other scenario just in case to avoid liquidation, as we still in a bearish trend and could fail the test going down to as 76-78k area which could be strong support as previous cycle lows.