BTC Outlook - Make or Break
BTC has now dropped significantly and has broken several key support areas. It is now sitting inside of a weekly Demand zone and testing this area to see if it can get the support needed to continue the Bullish run. We need to confirm that this ~52,500 monthly level is enough support.
If this area can hold, we should see BTC return to retest the ~62,300 level.
If this 52,500 area cannot get enough support, we are likely falling to the next key level at 47,100.
We previously entered shorts at ~62,100 and keeping stops tight...Taking another short here at ~55,700 with a target to the monthly level at 52,500...then 48K.
Buy Limits in place around 48K.
If this area can hold, we should see BTC return to retest the ~62,300 level.
If this 52,500 area cannot get enough support, we are likely falling to the next key level at 47,100.
We previously entered shorts at ~62,100 and keeping stops tight...Taking another short here at ~55,700 with a target to the monthly level at 52,500...then 48K.
Buy Limits in place around 48K.
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