#BTCUPDATE - 20.7.21 THE WRONG SIDE OF $30K
#BTCUPDATE - 20.7.21
THE WRONG SIDE OF $30K
Currently trading under $30k which is going to be testing a lot of traders HODL abilities now.
There is clear confusion on the metrics side with big amounts of BTC outflows one day and then switching to inflows the next day. People don;t really know whether to accumulate or sell.
From a TA standpoint this is looking very bearish - with further downside expected. Although I feel that $28k might be the bottom given the generally strong support there and very large buy orders sat there (historically these act as good targets but are unreliable for bounces/reversals).
There is a small bit of hopium tomorrow with the Dorsey/Elon interview, there could be some big BTC announcements and integration across their businesses. We have seen the opposite happen with Elon before.
My general play is stil shorting to $28.2k and then using a trailing buy to potentially catch a bounce at $28.2k to $29k potential $30k region.
Stay safe out there, it won't go down forever
THE WRONG SIDE OF $30K
Currently trading under $30k which is going to be testing a lot of traders HODL abilities now.
There is clear confusion on the metrics side with big amounts of BTC outflows one day and then switching to inflows the next day. People don;t really know whether to accumulate or sell.
From a TA standpoint this is looking very bearish - with further downside expected. Although I feel that $28k might be the bottom given the generally strong support there and very large buy orders sat there (historically these act as good targets but are unreliable for bounces/reversals).
There is a small bit of hopium tomorrow with the Dorsey/Elon interview, there could be some big BTC announcements and integration across their businesses. We have seen the opposite happen with Elon before.
My general play is stil shorting to $28.2k and then using a trailing buy to potentially catch a bounce at $28.2k to $29k potential $30k region.
Stay safe out there, it won't go down forever
