Bitcoin Update - Expecting a bearish retest | Short Opportunties
Hi Guys,
A quick follow-up to my video 2 days ago. Bitcoin has moved lower and I am now looking for a bearish retest of previous support, likely to be the 200SMA on the daily TF or previous supporting fibs/trendlines.
It's important to get full confirmation of a bearish retest and then look for short opportunities.
On a bearish retest, my target would be the 0.5 and 0.618 fib supporting levels, the 0.618 fib level also coincides with the measured move from the rising channel that Bitcoin has been trading in.
It's all in the video.
A quick follow-up to my video 2 days ago. Bitcoin has moved lower and I am now looking for a bearish retest of previous support, likely to be the 200SMA on the daily TF or previous supporting fibs/trendlines.
It's important to get full confirmation of a bearish retest and then look for short opportunities.
On a bearish retest, my target would be the 0.5 and 0.618 fib supporting levels, the 0.618 fib level also coincides with the measured move from the rising channel that Bitcoin has been trading in.
It's all in the video.
BPOI - CRYPTO TRADING GROUP