Hi all, so BTC has been in a parabolic move recently, but is this over ? possibly yes, but let's look at the evidence....
BTCUSD has been in this ascending channel now for a while, it could break to the downside in which case 34k is incoming. however there could still be a final leg up here if we bounce off the low of the channel.
a bounce takes us to 44k
a drop takes us to 34k
pretty simple trade here, go long set stop loss to 300 dollars below the ascending channel. If that breaks then set long orders at around 34k, possibly ladder those buys from 37k downwards and leave a big buy around 30k level in case it gets there.
but my honest opiinion is bounce of the bottom of ths channel and see 44k by sunday night.
just my opinion, not trading advice, I am not a financial advisor, DYOR etc.
BTCUSD has been in this ascending channel now for a while, it could break to the downside in which case 34k is incoming. however there could still be a final leg up here if we bounce off the low of the channel.
a bounce takes us to 44k
a drop takes us to 34k
pretty simple trade here, go long set stop loss to 300 dollars below the ascending channel. If that breaks then set long orders at around 34k, possibly ladder those buys from 37k downwards and leave a big buy around 30k level in case it gets there.
but my honest opiinion is bounce of the bottom of ths channel and see 44k by sunday night.
just my opinion, not trading advice, I am not a financial advisor, DYOR etc.