BTC dropped very fast - Should you sell?

21. Juli 2022

☝️A lot of people who entered into long positions during last 2 weeks are starting to question whether it's good to keep them since BTC showed us good drop yesterday.
Lets zoom out a bit and look at a bigger picture:

☝️On daily timeframe BTC broke huge trendline and now is trading above it. It's good sign for bulls and on daily timeframe there no sign of reversal yet.
Moreover, BTC has huge room for growth without any major resistances up to 28k - that's 17% distance.


☝️Locally on 1h timeframe we have formed nice trendline that everyone can see. Right now drop is too sharp. Without any range before trendline it will likely be a bounce of false breakout.
I expect breakout of the top trendline either
1. From current price since we retesting important zone
2. First we touch the bottom trendline and only then do bullish breakout



What do you think of this idea? What is your opinion? Share it in the comments📄🖌
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P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones