My view on the 9th: The daily candle broke below 75,000, with the first target around 72,000. We’ve reached that level now. If you followed the trade, take profits where appropriate, or keep some of your position open and hold.
As you can see in the chart, the uptrend line has now been broken. Even if tomorrow’s candle closes back above it, making this a false breakdown, I’ll still be looking for further downside. I don’t think 72,000 is strong support. As I’ve said before, look for opportunities to short on rebounds. Don’t get greedy over a small bounce and go all-in on longs.
The next target is 70,000–67,000, clearly marked in the image. $BTC
As you can see in the chart, the uptrend line has now been broken. Even if tomorrow’s candle closes back above it, making this a false breakdown, I’ll still be looking for further downside. I don’t think 72,000 is strong support. As I’ve said before, look for opportunities to short on rebounds. Don’t get greedy over a small bounce and go all-in on longs.
The next target is 70,000–67,000, clearly marked in the image. $BTC
