Hi everyone,
My analysis is more clear now on BTC. A strong W formation would give us a double bottom and a strong push back to the upside to recover. We could wick below 40k but I expect buying pressure to stabilize us at this level. However, keep in mind that if current support turns into resistance we will move towards lower price targets. I am short term bearish (short position) and mid term bullish (buy limits on spot). Will update on Tuesday.
My analysis is more clear now on BTC. A strong W formation would give us a double bottom and a strong push back to the upside to recover. We could wick below 40k but I expect buying pressure to stabilize us at this level. However, keep in mind that if current support turns into resistance we will move towards lower price targets. I am short term bearish (short position) and mid term bullish (buy limits on spot). Will update on Tuesday.