BTC | Potential reversal ongoing, needs confirmation
Current trend is : CHOP - Bearish in reversal.
That means if you want to play safe with the trend, this is a no trade zone.
Further analysis:
Personal opinion:
S1 broken is a win for bulls. I think S2 gets broken before S3 and we see a bull trend reforming.
If that is the case, i will be longing the retest of the S2 zone.
That means if you want to play safe with the trend, this is a no trade zone.
Further analysis:
- S1 has been broken, showing bull pressure and trend weakening
- S2 zone remains the bulls objective to confirm a reversal. Until we did not break S2, we cannot confirm a reversal.
- S3 zone is the target for bears: break this and the bear trend is confirmed.
Personal opinion:
S1 broken is a win for bulls. I think S2 gets broken before S3 and we see a bull trend reforming.
If that is the case, i will be longing the retest of the S2 zone.
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