🩸$BTC looks like we might revisit the lows soon.
With the aggressive selloff we’ve just seen, BTC has not only lost our key support level at $85k but also broken the short-term uptrend, shifting momentum back in favor of sellers.
Now that the Friday low has been swept and price is currently finding some sort of short-term support around the monthly open, we could still see a bounce from here.
If that bounce brings price back into the grey zone, I’d consider it a great short opportunity, especially now that our previous support could start acting as resistance.
However, if bearish momentum remains this strong, I wouldn’t be surprised if BTC simply continues lower without giving us a proper retest first.
Trade Smartly 👇🏻
With the aggressive selloff we’ve just seen, BTC has not only lost our key support level at $85k but also broken the short-term uptrend, shifting momentum back in favor of sellers.
Now that the Friday low has been swept and price is currently finding some sort of short-term support around the monthly open, we could still see a bounce from here.
If that bounce brings price back into the grey zone, I’d consider it a great short opportunity, especially now that our previous support could start acting as resistance.
However, if bearish momentum remains this strong, I wouldn’t be surprised if BTC simply continues lower without giving us a proper retest first.
Trade Smartly 👇🏻