Bitcoin looks like it wants to go lower
Heyooooooooooooooooooo! Haven't published in a while but wanted to share my thoughts on Bitcoin. Not financial advice just my two cents!
1. Bitcoin broke above descending trendline and is now using it as support, so I guessssssssss the "bump and run" is still in play, but we may be bumping more before running
2. Volume profile shows 3 distinct distribution levels:
a. 53.6k-
59K: this is the range that I will be using the confirm Bullish continuation
b.
46K-50k: this is the range that I will be calling "No Man's Land". Trade it at your own risk but it just feels like a trappy range to me
c. 40.6k-
36K: this is where I will be scattering limit order buys
3. Going to await a break in negative RSI trend to confirm reversal
Share your thoughts and predictions & happy trading!
1. Bitcoin broke above descending trendline and is now using it as support, so I guessssssssss the "bump and run" is still in play, but we may be bumping more before running
2. Volume profile shows 3 distinct distribution levels:
a. 53.6k-
59K: this is the range that I will be using the confirm Bullish continuationb.
46K-50k: this is the range that I will be calling "No Man's Land". Trade it at your own risk but it just feels like a trappy range to mec. 40.6k-
36K: this is where I will be scattering limit order buys3. Going to await a break in negative RSI trend to confirm reversal
Share your thoughts and predictions & happy trading!
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