Here's my idea on the current price action of BTC and possible target if it were to break either way:
Downside:
- If BTC fails to hold the $22500 region then I suspect the price will fall, take out the inefficiency of the pump and hit the mid-range marked out.
- Possible signs of a deviation
- Bulls running out of steam
Upside:
- If BTC can reclaim the 0.75 region then the range high is a possibility
- I would be careful placing longs in this area, Keep a tight stop loss and cut soon if it breaks below
Downside:
- If BTC fails to hold the $22500 region then I suspect the price will fall, take out the inefficiency of the pump and hit the mid-range marked out.
- Possible signs of a deviation
- Bulls running out of steam
Upside:
- If BTC can reclaim the 0.75 region then the range high is a possibility
- I would be careful placing longs in this area, Keep a tight stop loss and cut soon if it breaks below
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