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Crypto

Bitcoin (BTC) - Edition #1

Luis Ricardo Guizado

Luis Ricardo Guizado

— 1 min read
Bitcoin (BTC) - Edition #1

Macro Outlook ⚠️ Caution ⚠️ 

  • Prices will eventually make a new all time high. The question is when?
  • As for now, we did break ATH but price was unable to stay above this key level which signaled weakness in momentum. 
  • We had two tests of the previous ATH with the second test unable to break above the previous high which signals weakness in price action. 

https://www.tradingview.com/x/Oz3dpEtB/

  • As for now price looks WEAK
  • We broke below $58k and if price is unable to reclaim this level, a freefall to $51k ish area is a no brainer. 

https://www.tradingview.com/x/YUHYHPqE/ 

Short Term Outlook ⚠️ Caution ⚠️ 

  • Extreme caution must be taken as price broke below resistance level. 
  • for risk averse traders looking to profit off this dump, we’d advise to wait for price to take liquidity off this low and if we get to reclaim this level, then a long with tight stop might be an option. 
  • Be advised this is a 50/50 trade and you'd be jumping against the trend. 

https://www.tradingview.com/x/lPlffo1i/

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