From a technical perspective BTC is in a uptrend on higher timeframes, but to my concern it seems that this trend has run out of steam and in my opinion there are two possible scenarios about to play out.
1. BTC will respect the current uptrend and the higher low marked as a thin blue box and will try to retest the previous top.
2. BTC will brake down from its current trend and from a lower low on current timeframe. After braking down, we will move to a sideways market, in this case you can long the area in the lower blue box i have drawn.
Shorting right now is pretty dangerous, but it might work on lower timeframes. I would suggest to buy spot on the upper area on the trend and leverage long on the lower end of the are marked in the wide box. Be sure to use a stop loss order in case you decide to use leverage, it should be somewhere 57500 in order to avoid being stopped out from volatility.
Good luck!
1. BTC will respect the current uptrend and the higher low marked as a thin blue box and will try to retest the previous top.
2. BTC will brake down from its current trend and from a lower low on current timeframe. After braking down, we will move to a sideways market, in this case you can long the area in the lower blue box i have drawn.
Shorting right now is pretty dangerous, but it might work on lower timeframes. I would suggest to buy spot on the upper area on the trend and leverage long on the lower end of the are marked in the wide box. Be sure to use a stop loss order in case you decide to use leverage, it should be somewhere 57500 in order to avoid being stopped out from volatility.
Good luck!