Hello Traders and Investors,
Bitcoin had a small run the last two weeks. However, it wasn't strong enough for it to break above resistance and push for 28k-30k. It is starting to look like an AB CD move right down to 13k. This play is not in motion yet as we are waiting for a breakout of the channel and confirmation for a lower move. We sit and wait for the breakout to the downside and some consolidation before entering this short trade.
Let me know what you think.
Bitcoin had a small run the last two weeks. However, it wasn't strong enough for it to break above resistance and push for 28k-30k. It is starting to look like an AB CD move right down to 13k. This play is not in motion yet as we are waiting for a breakout of the channel and confirmation for a lower move. We sit and wait for the breakout to the downside and some consolidation before entering this short trade.
Let me know what you think.