- BTC yesterday retested the upper resistance zone of 23300, but soon afterwards did not have enough force to break upwards and immediately appeared 1 pinbar reversal right here. But after pushing towards the lower support zone of 22600, buybacks appear => BTC is sideways in the range of 22600 – 23300 to accumulate a decision on which resistance to break.
- Currently, Blackmantrader is leaning towards a short-term downtrend for 2 reasons:
- BTC, after recovering sharply from 16000, has touched the large resistance of the MN frame (around 24000), needing 1 time of accumulation that cannot be broken immediately.
- Last week’s candlestick also closed the bearish candlestick right at this resistance => for a reversal signal right at the barrier. And there has not been a bounce for the sharp price increase at the beginning of last year.
=> So Blackmantrader still maintains that BTC will have a deep recovery to 21500, then will recover from here.
- Today, BTC will rise slightly to 23000 at the beginning of the day. Then there will be a reversal signal to push the market to 22860, Blackmantrader expects today to break the 22600 area.
Command reference:
Short (Sell) 23000
SL 23150
TP 22860
WISH YOU 1 SUCCESSFUL TRADING DAY
