Bitcoin has been in a long term consolidation for the last 12 months. During this time, the Lower highs created have not closed above the previous lower high at the 33000 level. If price is rejected at 33000, BTC may make another lower low below 14000. Consequently, a close above 33000 may mean that BTC is now bullish. For now, we wait for more price action to form and confirm the bias.
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Don't sell until price is rejected at 3300 !
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Now, we wait for the fadeout to 3300.
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Don't sell Bitcoin just yet. Price has to tag 33000 zone.
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Patience is a virtue. Patience pays, especially in trading. Wait and sell only at 33000.
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Looks like price is technically 'stuck' at these levels. Since the bearish momentum is lacking, we may see a price spike to previous highs before the bears come in.
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BTCUSD setting up for a nosedive !
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BTC BLEEDS !
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500 PIPS ON BTC !
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25500 is the new low on the current bear trend as BTC BLEEDS !
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A break below 24500 will expose BTC to 19500 !
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Wait out for the FOMC to pivot the Dollar rates @ 5.50% before selling BTC !
Thedeveloper