Bitcoin update!!!
sagar talekar:
Hello guys, I hope you are doing great!
BTC is slowing down a little bit and it was expected. It was amazing move from 6300 to 8500 almost without any bigger correction. The question is how much this down can last because I am almost sure that bulls will try again, sooner or later, to pump BTC.
First area to monitor is mid bb on 4h time frame. It is currently under 8000 but it will claim step by step because of its algorithm. It could be tested at 8000 or 8100 it depends. BTC shouldnt close below that area if we want to see continuation of this amazing move.
The main area is around 7700-7800. If BTC wants to stay bullish in this local bull run, it should stay above that area for a while. So, breaking that area would cause big problems for BTC and maybe it would mean no 8k for a while!
This 3rd mentioned area is local strong area but in my opinion 2nd area is main one and this third could be only short-term support if it gets tested.
So, what is my strategy! As I said in last post I am waiting for my green area to be touched to check price action and probably to go long. Currently I am short from 8300-8500 where I averaged nice short position mostly in 8350-8450 area. I mentioned that too if we get tested 8400 with lower volume to short it. If you did that I hope you are enjoying the profit you made.
*Image source = coinmarketcap snap
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@sagartalekar, I do not understand anything written
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