Trader, Bitcoin (BTCUSD) consolidated for some time and then showed a little strength. This strength can be deceiving just to create all time highs and completed an extended W pattern which usually is a bearish pattern if confirmed. This is not the right time to buy BTC1! as it is close to the reversal FCP zone and a psychological 70K round number. Better place to buy will be when it falls for a correction. This however can be a good set up to short if we get a confirmation below the zone on at least daily basis. Due to hype, it is better to get a confirmation on rather weekly basis.
Rules: 1. Never trade too much 2. Never trade without a confirmation 3. Never rely on signals, do your own analysis and research too
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Take care and trade well -Vik
____________________________________________________ π DISCLAIMER The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions. ____________________________________________________
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Bitcoin: Can fall more, much more π but be careful of gaps around 62k.