Right now price testing it's important daily support zone and everything right now indicates that for next 1-2 days we will see more drop in $BTC Price...
So on any strong bounce and bearish confirmation on LTF Looking Short Trade is a better idea.
Reasons :
- current fundamentals totally bearish. - technically HTF's & LTF's in bearish trend. - overall onchain data seems bullish but major liquidity cluster is still below 62k$ zone
But remember 2 more things also...
On HTF important key zone is 62750$ ( above maybe things turn bullish but below pure bearish)
On LTF important zone is 61340$ and below may be we see reversal... So plan trades accordingly..
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โข After getting rejection from 15.5$ resistance.. price drop more then 80% in last 48 hrs... and currently trying to hold 1D Support.
โข maybe we see small bounce from here but i will not preffer any trade there.. until price grab liquidity below 1.40$
โข And in coming days it's price will drop below 0.50$ according to my analysis.
Reason ๐จ historically all manipulated coins who's pump dump before $LAB ... like siren, rave, myx, ata... they all drop from it ATH minimum 98% before giving a small size relly.. Personally you are able to do comparison..
โข Overall right now technically it's structure look bearish..
โข but near me all you need is just to remember one important zone and that is 15.5$
โข price trading above 15.5$ ... get high levels bullish confirmation... Simply plan small size long trade...
โข price trading below 15.5$ .. Simply get bearish confirmation... Plan small size short trade...
One thing about this coin you all know that it's a manipulated coin by whales... So don't build any trade without SL and risk only what you can afford to lose...
I think big move is loading... Within next 48-72 hrs๐ซก
โข I am expecting now that price will test 64.5k$-65k$ zone in next 2-3 day's... Until price manage to stay above 62500$ zone..
โข currently you are able to look for long trade on BTC with High level confirmations on LTF's Using low Funds... Bcz Fundamentals & mostly LTF'S are still in Bearish trend.
โข in 2nd case if price grab liquidity below 62500$ and again reclaim marked support zone... Then trade setup idea will be more strong.
But without SL & Clear invalidation level don't build any trade๐จ
โข Near me if tomorrow $BTC Price manage to hold 71250$-70500$ zone area... Then we will look for long trade setup after getting proper bullish confirmation on LTF's.
Reasons :
1- onchain data now is totally bullish.. 2- LTF'S Are in oversold.. โข Price will test important support zone..
Warning : without proper bullish confirmation i will not take any trade... Bcz overall we are in a bearish trend from LTF'S to HTF's.