Chances to re-test 59K are still hold

Morning folks,

Treat this update as intraday details for our major trading plan that we've prepared on Monday (take a look at previous idea). Generally speaking - we keep it intact. Now we do not see any reasons to change it or signs that it is failing. BTC keeps chances as to re-test 59K area as to show deeper retracement to 40-42K.

Thus, you have few trading options. First is conservative approach - do nothing and wait for 40K major support. Second - you could split position and try to take 1/3 around current support area, as BTC still has chances to reach 58-59K level. Here we have "222" Buy or Double Bottom as you like it more, and equal lows, which are also the bullish sign. If bounce up happens - move stops to break even, if not - take 2/3 bulk around 40K area.

Theoretically it is not forbidden also to consider short position around 58-59K but this strategy has no relation to our trading plan and we do not consider it.