Following on from our last post where we had the higher timeframe analysis for shorts, we are now almost near our ideal reversal zone.
The 39k level appears to fall in line with the descending trendine and the structure, making it the best place for reversal.
Trade Idea:
- Watch for price to reject the descending trendline and structure
- enter with stops above the rejected price
- targets: 33k, 30k, actively manage the rest incase Bitcoin dips even more
See below for our higher timeframe analysis.
The 39k level appears to fall in line with the descending trendine and the structure, making it the best place for reversal.
Trade Idea:
- Watch for price to reject the descending trendline and structure
- enter with stops above the rejected price
- targets: 33k, 30k, actively manage the rest incase Bitcoin dips even more
See below for our higher timeframe analysis.
