Bitcoin What's Next?

Happy new year team HTTC!
We have had a few weeks off to spend time with freinds and family. Last year was massive for us and to be honest we needed a rest! 😴
Back in action now!
Currently sat in BTC short since the 28th Dec as per our short 20 EMA strategy and up 13% adding to our 10% in the trade before that. 💪

*Our thoughts*
As of this week we have confirmed a new weekly downtrend for the first time since July last year (even that for us was a little too violent and did not form proper market structure). So its been a hot minute since we saw a weekly downtrend.🧐

We now have a lower high and a lower low on the weekly chart and it's broken a weekly trend line many have been watching. It's all looking a little glum I'm afraid. 😕
It has just broken a key support level at 45K, and now looking to test a strong weekly support level at 40K so I would be waiting for a break of that to enter short now. Pretty sure we will see some volatility around this level as the buyers and sellers battle for direction. 🥴

*Long Entries*
Simply not looking for longs until price gets back above 45/46K and we want to see higher highs and lows on the daily. we can see it holding around the 40K mark for a while now. And as appealing as it seems to grab a bag at 40K it does not fit our plan.

*Shorts*
Pending a breakout like the one through 45K, I want to see price settle and give us a good stop loss.
Just think back to market cycles and these long term movements just make sense.
Trade the trend! Good to be back on the tools. Lets see what 2022 has in store 🥵