Price is holding well at this 20k range. But I don't necessary see this is the bottom.
There are plenty of reason to not think the bottom is in. Yet doesn't mean we cannot see a stronger bounce. (see videos for technical levels m looking at)
I is important to realise that macro trend are still looking very nasty and any long positions on intraday/daily swings should been seen as of short term and high risk.
Check the video for my latest thoughts and a walk-trough some futures data and orderbooks as an extra.
Different approach, pretty similar view, i think. After failing to confirm an ascending triangle i'd say price is likely to look for liquidity down into the 19k range.
After failing to confirm an ascending triangle i'd say price is likely to look for liquidity down into the 19k range.
(Chart from couple days ago)