Bitcoin - Pullback into Short

Hi folks

As always, clean, simple, and easy to understand for everyone.


Bitcoin - Pullback into Short
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Overview

Bitcoin is currently facing a support zone around the 37k ish level.
The 40k ish support zone turns now into a resistance.
We also have had a generally bearish movement (red Trendline) since 10th November 2021
The 40k is (now resistance) now matches the significant red down Trendline (yellow circle).


Multiple Scenarios

Scenario 1

We will see a pullback getting rejected by either the 40k ish resistance or the red Trendline. Going then down to the 37k ish support, breaking trough, having a small pullback, and moving further down to the 30k ish support level.




Scenario 2

Direct breakthrough the 37k ish support zone, pulling back to the Trendline or the 37k ish zone, which acts as a resistance and goes down from there.




Scenario 3

Full breakthrough on the weekend to the 30k support





Bullish scenarios?

As long as we are not breaking through that major red Trendline, I am not covering any kind of bullish scenarios.


Happy Trading