BTCUSD / Bitcoin - Outlook

Happy Sunday traders. Today we take a look at BTCUSD / Bitcoin.

Currently I am expecting price to break down into our $5,000 USD liquidity pool and thereafter spark a leg towards our highs @ $5,745 USD.

Within this $5,700 area I expect a bull trap to form for Bitcoin, trapping buyers whom seek targets of 6K.

- After, breakdown into our $4,700 Liq Pool & begin a rally towards the $6,580 USD level giving Bitcoin a bullish leg up.
- If our $4,700 USD Low does not hold I am expecting a raid into our Daily Demand Pivot where I would like to see a strong reaction from the bulls via our $4,000 USD level.
- We do not want to see the bulls break & close below our Daily Demand. This would shift our bias to the downside for potential lower lows on Bitcoin.

Bullish target @ $7,750 USD

Twitter - Telegram