After an unexpected tweet from Elon Musk yesterday, Bitcoin just plunged straight from 54k to 46k.
We can see that Bitcoin bounced from the support area on my chart (pink rectangle).
The candle formed at the bottom of the move was a hammer on extremely high volume (in fact, this was the highest volume on a 4H candle since 23 feb) indicating signs of a reversal giving us an opportunity to buy the dip on the plays we like.
Buying the panic is always a good idea, but if you don't feel comfortable doing it, you certainly don't have to.
We want to see Bitcoin back above 51k, 53k, then 55.5k.
We don't wanna see Bitcoin break and close below our support area.
Any questions?
Good luck traders,
Remember not to break your rules
Habib
We can see that Bitcoin bounced from the support area on my chart (pink rectangle).
The candle formed at the bottom of the move was a hammer on extremely high volume (in fact, this was the highest volume on a 4H candle since 23 feb) indicating signs of a reversal giving us an opportunity to buy the dip on the plays we like.
Buying the panic is always a good idea, but if you don't feel comfortable doing it, you certainly don't have to.
We want to see Bitcoin back above 51k, 53k, then 55.5k.
We don't wanna see Bitcoin break and close below our support area.
Any questions?
Good luck traders,
Remember not to break your rules
Habib