DEALERBTC My Thoughts: #BTC $BTC #BITCOIN Bull Exhaustion zZzZzZ
This trade idea is an update to my previous two. The price action is telling me that the bulls are losing force. As I said earlier today, if price fails to clear above $43,497, I believe the $37,400 region may be in play. $37,400-$34,900 may become a consolidation zone before the next move. If price fails to continue upwards from this consolidation zone that I just pointed out, I believe $30,600 will very likely get a visit.
I have showed this in stages, but the bears may always come in with force. If the bears can come with enough power to break down below $30,600 in 1-3 daily candles, I believe there is good likelihood that the low of 2023 - currently $15589 - would get a visit and likely be broken.
If support at $34,900 is lost, I do not believe there will be any significant bullsih bounce until at least February 2024.
This trade idea is not financial advice. I am not a financial advisor of any kind. I am a stupid degenerate gambler. Please do your own analysis, responsibly manage your risk, and stay safe.
Thanks for hitting the like button!
I have showed this in stages, but the bears may always come in with force. If the bears can come with enough power to break down below $30,600 in 1-3 daily candles, I believe there is good likelihood that the low of 2023 - currently $15589 - would get a visit and likely be broken.
If support at $34,900 is lost, I do not believe there will be any significant bullsih bounce until at least February 2024.
This trade idea is not financial advice. I am not a financial advisor of any kind. I am a stupid degenerate gambler. Please do your own analysis, responsibly manage your risk, and stay safe.
Thanks for hitting the like button!
Do you like my analysis? Do you want to stop paying for stop losses and make money? Come trade with me in my private Discord group with this link discord.gg/q5Q7GzVD3h - Send me a DM to start.
