Hey guys,
yesterday bitcoin tested 60K, but I'm not in a hurry to pick it up, as I don't like the reaction of the price, we had to rebound sharply and strongly, but it's going smoothly and not in a hurry.
At the moment I see several scenarios, as the market is giving double signals, halving in a few days, and the market may play a game of buy the rumors, sell the facts, as most retailers are still expecting growth on this event. But the metrics of the big players show a partial unloading. For example, spot ETFs are showing a third day of negative inflow and open interest in futures contracts is also showing a decline.
Long
1. For longs, we should wait for the breakdown of 64k - conservative.
2. We are also at the lower boundary of the sidewall, where a false breakdown of 60 thousand, and a sharp upward price move, this scenario is also possible, in this case we can consider an earlier entry - more aggressive.
Short
Since we are in a local downtrend, I will look for an entry point for the short, again, I do not plan to sell from the current level, but I will wait for a pin bar and a false breakdown of 64K, or a breakdown of 60K, in case of working out the price will test the zone of 57 and 55K. Always DYOR.
Stay tuned.
