Bitcoin- Traders should be careful with buy trades now

Pretty quickly my target of 21k was reached and, as explained on Monday's post, my trade closed in TP with 1:4 R:R.
My optimism from now on is very reserved though... Indeed, we have a higher low in place and Bitcoin is well above 18k support, however, the last 3 days are marked by an almost 20% rise and a correction could follow soon.

Technically speaking, above 21k is the resistance zone and from this zone, a correction could start.


Looking at a 1-hour chart we can see a small consolidation that resembles a small pennant, so a new high is not out of the question, but, as I said, if you are not scalping the market, in my opinion, is not worth the risk of a buy trade.

In conclusion, I will look to buy around 19k and if is not dropping there it can go "to the moon" without me:)