Bitcoin bounces before reaching 38k, but I'm gonna play it safe.
Bitcoin broke critical support below 40k but it did not reach support at 38k. Therefore, I'm going to play it safe and take long profit at 43k if we go there. If price pumps beyond 43k (at the 0.618) and reaches the 1 fibbonacci level (at 47k), I will consider taking a small short.
This price action is telling me we are in a period high volatility and a medium term top could be in.
If there is continuation above 47k (highly unlikely scenario) and beyond, I will be happy to wait for a short play possibly at the 65k level.
I hope this helps someone out there.
God bless you all,
Handy
This price action is telling me we are in a period high volatility and a medium term top could be in.
If there is continuation above 47k (highly unlikely scenario) and beyond, I will be happy to wait for a short play possibly at the 65k level.
I hope this helps someone out there.
God bless you all,
Handy