$BTC ripped on the US regulation news and stalled right at the anchored VWAP from the all-time high — red curve resistance. If price clears that level and holds above for about a week, I'll consider the bottom in. Until then, still giving 30-40% odds we see a new low in the next few months.
I've been calling this bounce for weeks and remain long with no interest in shorts right now.
Key level: $73.8k is crucial support. Break below that and we could freefall to $67,250 — almost zero volume in that zone, so no support.
Trade plan:
- Holding long, might add at $73.8k with a stop if it breaks
- TP around $82.3k, possibly flip short there
Still on holiday, writing this from a sunbed with a beer in hand, so charts aren't perfect. Will catch up on requests next week.
I've been calling this bounce for weeks and remain long with no interest in shorts right now.
Key level: $73.8k is crucial support. Break below that and we could freefall to $67,250 — almost zero volume in that zone, so no support.
Trade plan:
- Holding long, might add at $73.8k with a stop if it breaks
- TP around $82.3k, possibly flip short there
Still on holiday, writing this from a sunbed with a beer in hand, so charts aren't perfect. Will catch up on requests next week.
