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Bitcoin: Fade Setup
Bigger picture remains bearish in the form of descending channel. A key level to lookout for is $10,300. I'm expecting to fade this channel breakout as this price level was clearly respected with strong rejections.
A more conservative approach is to wait the resistance level to push price back lower and enter by pullbacks.
However if price managed to close above 11,000 without any sellers reacting... I will be changing my bias from bearish to short term bullish all the way to at least $13,000
A more conservative approach is to wait the resistance level to push price back lower and enter by pullbacks.
However if price managed to close above 11,000 without any sellers reacting... I will be changing my bias from bearish to short term bullish all the way to at least $13,000
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