If we go down, the speed resistance fan lines show us the bottom should be a safe 9.7k if it doesn't break.
looking good so it may go up short term; my reason for downtrend or sideways movement is that longs have increased and the MACD's shape doesn't look too hoto for a 4h.
Double topped at a critical point; accumulation zone right now.
Play it safe
- $8,000 as the bottom, please refer to my other ideas for a more in depth answer.
- $9,700 - Best entry, barring a further drop. Also unrealistic for now.
- $10,300 - my own re entry
- $10,700 is bulltrap range
- $11,200 safe
- $11,500 complete reversal
- Lambo when
Sentiment is still very, very low, but price is too.
I believe a safe re-entry will be $10,000 as that will offer leeway if it hits major resistance again for whatever reason before $11,000. Confidence in price will be up past that point, and a trader will have much more time to sell the BTC off if we enter bear mode again.
A little dangerous before hitting $10,500 but I've been constantly revising and watching the order book. Heavy sell volume was being placed in with an invisible sell wall blocking the small foolhardy buys. Then an invisible buy wall blocked us from breaking the main price trend! And I'd take the chance to lose money either way since I spent so much time watching it.......
Main channel seen here: