BTC trade idea - not enough support right here..

Analysis: What to expect on next week? So far BTC didn't managed to break another ATH while a lot of other coins made some good progress. Since BTC acts like a market index, by looking at the daily chart we can observe a hesitation around the 60k level. There are a lot of noise near the 50DEMA also ( it was reallt supportive since the start of the bull run - green boxes). If I had to chose right now to open a trade, I would go with a short rather than long. By looking at the daily chart I can say that there is no serious support right here at the 60k level, there is no serious support at 45k neither. I am not planning to go long on BTC until I will see the touch of the red stripped trendline highlighted on the chart above. I will also take a look on the fundamental factors before I will make a decision about longing BTC again.

Conculsion: Neutral - not enough support at this level.

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Still valid

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First leg done! Amazing profits so far!