The last time we analysed Bitcoin, we were at the the 34K level calling shorts back down to 30K. We have almost approached 30K now where we have previous price action.
If we hold the 30K level and bounce from here, we can possibly see ourselves revisiting the 36.4K level in the coming week.
Trade Plan:
- Wait to see if 30K holds.
- Watch for descending trendline break on lower timeframe (See chart update for lower timeframe analysis)
If we break below the 30K level, we could see lows of 27K.
If we hold the 30K level and bounce from here, we can possibly see ourselves revisiting the 36.4K level in the coming week.
Trade Plan:
- Wait to see if 30K holds.
- Watch for descending trendline break on lower timeframe (See chart update for lower timeframe analysis)
If we break below the 30K level, we could see lows of 27K.
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