Short

BTC possible scenario, again!

I was hoping for a doji on the daily and that is exactly what we got. During the last candle we tested 10k support (which is now very weak after 4 bounces) and also tested the 100 day ma resistance (which was strong enough to give us a close below). From now I expect the selling to increase over the next few hours and possibly a daily close below 10k. There is plenty of room for more downside on the RSI on all timescales. It may be too late now to sell as the reward will low but there may some opportunities if we close below 10k and then if we bounce off the parabolic trend line and retest the 100 day before reaching 7.5-8k.

LukeSouthwell

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.