BTC has had a strong pull back and is now at a key level of support. The 50% fib level which aligns with a 4 hour support and the previously broken daily downtrend line.
If BTC finds support here then we may see a nice bounce back up to test the higher resistance levels again. This would also confirm new market structure making a higher low.
If the support here we will BTC drop further down to retest the 6800 level.
I am looking for potential short and long opportunities here pending which direction we begin to head. Watching closely but i am expecting some sideways movement at this level for maybe a couple of days before BTC makes another big move.
If BTC finds support here then we may see a nice bounce back up to test the higher resistance levels again. This would also confirm new market structure making a higher low.
If the support here we will BTC drop further down to retest the 6800 level.
I am looking for potential short and long opportunities here pending which direction we begin to head. Watching closely but i am expecting some sideways movement at this level for maybe a couple of days before BTC makes another big move.