As bitcoin is being slightly more stubborn that on my last chart, here’s the next one that lends itself to a bit longer timescale.
On the chart I have marked out the increasing area of resistance around the 7.2k mark. I believe that we will see this tested more over the coming days, but untimately will retest the 6k before the 7.2k mark is broken -but even then this will be another bulltrap-
Ive marked out in green the first area that I will be closing down a fair amount of my SHORT trades on eToro that I am currently hedging out my very long term LONG trades that I have from the downturn that are my Project ATLAS trades (my holding trades)
I still believe that we are in a bearish trend and will still test the 5k mark but might take a while to get there unless capitulation really takes hold and then even 3k could be tested.
BTCUSD
On the chart I have marked out the increasing area of resistance around the 7.2k mark. I believe that we will see this tested more over the coming days, but untimately will retest the 6k before the 7.2k mark is broken -but even then this will be another bulltrap-
Ive marked out in green the first area that I will be closing down a fair amount of my SHORT trades on eToro that I am currently hedging out my very long term LONG trades that I have from the downturn that are my Project ATLAS trades (my holding trades)
I still believe that we are in a bearish trend and will still test the 5k mark but might take a while to get there unless capitulation really takes hold and then even 3k could be tested.
BTCUSD