Bitcoin : Rejection toward the upper line of the channel
At the time I'm writing this, the price has shown a rejection toward the upper line of the channel which is now acting as a strong support because of potential phase 2 of our break out strategy. With a long wick toward this support, making me once again believe that even the bears were respecting this area as a crucial zone. But, even if we see any rejection toward this support at the lower time frame, the daily chart is still showing a huge bearish pressure to the down side.
I will expect a little pullback of the price toward the lower level of $7600 or lower of $7300 before the bulls start to enter the market. This action could be an action for the whales to liquidate the bulls before they start pushing again the market as a false break down.
Waiting patiently for the entry for long position. I don't care if this is just a dead cat bounce or something else, As long as we can make profit, I'm more than fine!
I will expect a little pullback of the price toward the lower level of $7600 or lower of $7300 before the bulls start to enter the market. This action could be an action for the whales to liquidate the bulls before they start pushing again the market as a false break down.
Waiting patiently for the entry for long position. I don't care if this is just a dead cat bounce or something else, As long as we can make profit, I'm more than fine!
