Crypto Market VLOG #30 - BTC failed breakout retest
BTC attempted to breakout of the symmetrical triangle, we came back down and have failed the retest and looking to test 37k again. Potentially we have actually bounced 37k and could be testing the trend line again next 4 to 8 hours.
I see a scenario where we break again to test 40k to 41k and get smacked violently down.
Given bearish context I think probability favors we fail major resistance here and test downwards for a few days. Keen to be proven wrong tho!! But I won't be entering longs here, only shorts. (A break and close above 41k I may enter longs)
MY PREDICTION = Significant resistance at 40k. We minor bounce 37k, touch trend line, then come down 34k to 35k.
Shoutout to todays trading view ideas = @TradingAxis, TradingShot
=== TimeStamps ===
0:00 = Welcome
0:30 = BTC high time frame
1:10 = BTC Failed breakout
3:30 = Where do we retrace?
4:30 = Descending channel significant
7:00 = Bounce 37K?
8:50 = FIBS
12:00 = BTC low time frame
13:00 = BTC monthly
14:40 = MY PREDICTION
16:50 = @TradingAxis - BTC symmetrical triangle
17:45 = TradingShot - BTC monthly bearish
19:30 = Closing words
I see a scenario where we break again to test 40k to 41k and get smacked violently down.
Given bearish context I think probability favors we fail major resistance here and test downwards for a few days. Keen to be proven wrong tho!! But I won't be entering longs here, only shorts. (A break and close above 41k I may enter longs)
MY PREDICTION = Significant resistance at 40k. We minor bounce 37k, touch trend line, then come down 34k to 35k.
Shoutout to todays trading view ideas = @TradingAxis, TradingShot
=== TimeStamps ===
0:00 = Welcome
0:30 = BTC high time frame
1:10 = BTC Failed breakout
3:30 = Where do we retrace?
4:30 = Descending channel significant
7:00 = Bounce 37K?
8:50 = FIBS
12:00 = BTC low time frame
13:00 = BTC monthly
14:40 = MY PREDICTION
16:50 = @TradingAxis - BTC symmetrical triangle
17:45 = TradingShot - BTC monthly bearish
19:30 = Closing words
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