BTCUSD – final correction move before new grow
Hi, friends. BTC correction is coming for the end. Yesterday we saw big stoppage + price rejection in the form of big tails, it’s a first sign of stopping the current trend (we have bear trend intraday) and going to the balance structure. Possible future balance range will be 8290-8900 or 8540-8900. As usual after first stoppage the price make 1-2 extremum update to finally knock out early buyers and execute sellers who are standing on breakdown. So with a high probability the price can make a false breakdown of 8290, also it’s a daily .
But there may be such an option that the price goes into balance right now and does not go lower. In this case we will be waiting for signal inside the balance at lower timeframes or go long after breakout 8900.
So we have 3 areas for opening long
– 8290 after false breakdown
– 8900 after true breakout
– now at lower timeframes
Long should be only with confirmation in the form of bull activity and bear weakness.
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