BTC LOOKS... FINE
Bitcoin looks… fine. I know there is panic everywhere with price breaking support, but it has had a nice bounce so far. As we know, with a key support like the 200 MA (red line), we usually see it broken or front run - rarely do people get the exact entry they want.
For now, we have a sweep of the lows and price back in the range. We need to watch closely for where today’s candle closes… subsequent days as well. Back in the range means we likely head back up to $67,000 to the middle.
Bulls do not want to see many candle closing below the range.
For now, we have a sweep of the lows and price back in the range. We need to watch closely for where today’s candle closes… subsequent days as well. Back in the range means we likely head back up to $67,000 to the middle.
Bulls do not want to see many candle closing below the range.
scott.melker@texaswestcapital.com
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