Bitcoin flash-crashed in the early hours, and the take-profit target was hit! Could it keep falling? Should you short now or wait for a rebound? #BTC
Bitcoin flash-crashed in the early hours, with its price reaching the take-profit zone we had been watching. Is there still room for further downside? If you’ve already taken profit or missed the move, should you short now or wait for a rebound?
BTC:
1. Daily-chart buy-side liquidity has been taken. Watch for a quick rebound, but whether this will complete a trend reversal remains to be seen; we need to observe the rebound further. Key resistance: 76040.
2. If the 30-minute chart breaks below 74000, a second drop is highly likely. Be mindful of the risk, and reduce your position if going long. A short-term rebound may form only after 76300 is broken.
ETH:
1. Price has returned to the daily FVG zone. The key level for going long is 2177; only consider going long if it breaks above this level.
2. Key resistance tonight is 2141. You can set an alert at this level and watch for a reversal on the 5-minute chart.
Bitcoin flash-crashed in the early hours, with its price reaching the take-profit zone we had been watching. Is there still room for further downside? If you’ve already taken profit or missed the move, should you short now or wait for a rebound?
BTC:
1. Daily-chart buy-side liquidity has been taken. Watch for a quick rebound, but whether this will complete a trend reversal remains to be seen; we need to observe the rebound further. Key resistance: 76040.
2. If the 30-minute chart breaks below 74000, a second drop is highly likely. Be mindful of the risk, and reduce your position if going long. A short-term rebound may form only after 76300 is broken.
ETH:
1. Price has returned to the daily FVG zone. The key level for going long is 2177; only consider going long if it breaks above this level.
2. Key resistance tonight is 2141. You can set an alert at this level and watch for a reversal on the 5-minute chart.