BTC has now bounced from the support zone pointed out in my last idea (red zone) and is also above it's 9 SMA on the daily timeframe which is a bullish sign.
BTC has also broken through resistance (green zone) which could now play out as support.
If BTC can manage to get past and close above 25000 (August high) then the next target would be 30000 as a true bottoming attempt should be able to make a closure above 25000.
But defining the risk is just as important and in this case a closure below support zone around the 22600 to 22300 (green zone) would warrant a move back down to to the Nov high (red zone) and potentially even lower
Trade Green
BTC has also broken through resistance (green zone) which could now play out as support.
If BTC can manage to get past and close above 25000 (August high) then the next target would be 30000 as a true bottoming attempt should be able to make a closure above 25000.
But defining the risk is just as important and in this case a closure below support zone around the 22600 to 22300 (green zone) would warrant a move back down to to the Nov high (red zone) and potentially even lower
Trade Green
