Be careful with BTC here..
Even tho BTC is up 10% today I would'nt get my hopes all the way up just yet.
Something interesting is happening here.. History shows: every time 20 & 50MA line crossed the 200MA line to the downside in the past, BTC went into a full on bear market.
20 & 50 MA is still just above 200MA, but a cross to the downside could give confirmation we need for a bearish trend.
A good short opportunity in my opinion is therefore a trade with entry at the 200 day mooving average. Stop loss can be placed above 20 & 50 MA or above the decending channel top if you want to give the market more room..
It's a trade worth taking even tho we could break the ressistance and go into price discovery aswell.
A short term target would be a test of the support we had at 56 500 and a intra- day target would be at the low end of the channel at about 50-52k.
Make sure to follow me on X for more weekly updates: @PuppyNakamoto
Our wolf pack are hunting for profits, one block at a time..🐺
BTCUSD BTCUSD BTCUSD BTCUSD BTCUSD
Something interesting is happening here.. History shows: every time 20 & 50MA line crossed the 200MA line to the downside in the past, BTC went into a full on bear market.
20 & 50 MA is still just above 200MA, but a cross to the downside could give confirmation we need for a bearish trend.
A good short opportunity in my opinion is therefore a trade with entry at the 200 day mooving average. Stop loss can be placed above 20 & 50 MA or above the decending channel top if you want to give the market more room..
It's a trade worth taking even tho we could break the ressistance and go into price discovery aswell.
A short term target would be a test of the support we had at 56 500 and a intra- day target would be at the low end of the channel at about 50-52k.
Make sure to follow me on X for more weekly updates: @PuppyNakamoto
Our wolf pack are hunting for profits, one block at a time..🐺
BTCUSD BTCUSD BTCUSD BTCUSD BTCUSD 
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