Looking at the
BTCUSD
4hr chart,
BTCUSD
is not out of the woods yet..
We did have a bullish bounce at $7665 but this is a pretty weak bounce considering how over-all bearish we have been.
I think we're going to be rejected at the green dotted trend line around $8200-$8400 then pushed back down to my first possible support around $6600-$7000. Here is where I will start scaling in with my buy orders starting at $7000 going down to $6000. Really hoping to take most of my position in the low 6's but we will see how this plays out.
If our strong support at $6000 fails I think
BTCUSD
is in BIG trouble... I don't necessary think this is going to be the case but something to keep in mind. Might be a good idea to have a stop-loss at $5750.
BTCUSD
4hr chart,
BTCUSD
is not out of the woods yet.. We did have a bullish bounce at $7665 but this is a pretty weak bounce considering how over-all bearish we have been.
I think we're going to be rejected at the green dotted trend line around $8200-$8400 then pushed back down to my first possible support around $6600-$7000. Here is where I will start scaling in with my buy orders starting at $7000 going down to $6000. Really hoping to take most of my position in the low 6's but we will see how this plays out.
If our strong support at $6000 fails I think
BTCUSD
is in BIG trouble... I don't necessary think this is going to be the case but something to keep in mind. Might be a good idea to have a stop-loss at $5750.