Bitcoin is again at a consolidation mode and it is waiting for a break-or-make decision from whales/traders what to go next?
I clearly present my view on the chart that we separate 3 zones to observe:
- Currently we are in Watching zone where price is in consolidation mode and I saw some dip buying at the trendline. However, the selling side also think this bouncing at the trendline is a good place to Sell a bit more, enough not to let the price falls quickly. If you look to buy this dip, then exit when it drops through the trendline and MAs. If you look to sell this bounce, then look to exit if price goes to the bullish zone.
- If BTC manages to come up and close above the Watching Zone, then we can think of finding setup for being bullish
- If BTC failes the trendline and closes below its MAs, then it is time to find setup to sell instead.
I clearly present my view on the chart that we separate 3 zones to observe:
- Currently we are in Watching zone where price is in consolidation mode and I saw some dip buying at the trendline. However, the selling side also think this bouncing at the trendline is a good place to Sell a bit more, enough not to let the price falls quickly. If you look to buy this dip, then exit when it drops through the trendline and MAs. If you look to sell this bounce, then look to exit if price goes to the bullish zone.
- If BTC manages to come up and close above the Watching Zone, then we can think of finding setup for being bullish
- If BTC failes the trendline and closes below its MAs, then it is time to find setup to sell instead.