Where can BTC’s upward move go this time? $BTC


Last night, BTC had a push higher, broke through the previous high, and came to around the 65,747 resistance level. It then started moving back down to retest; the level below at 65,056 has been kept being retested but has not broken. Remember—during one of BTC’s bounces, 65,050 was a small node: only if BTC holds steadily above this level can the upward move continue to reach 65,747. You can check my post from last week!
So since we’ve arrived at this level, how should BTC move next? BTC went from 59,000 up to 67,200, then from 57,758 up to where it is now. Currently, a short-term double top has formed. Many people are watching the 67,000 area. In this move, I actually see two extremes: either it starts retracing around 66,000, or it goes straight up to 68,000—70,000. So in the short term, this is how we look at it.
1. Short-sell layout:
Place short orders around BTC 65,700—66,200. If BTC drops with volume and breaks below 65,056, the targets to watch are the two support areas at 64,474—63,861.
2. Long-sell layout:
With BTC in this downward position, 65,056 is the support below, and the supports below are 64,474—63,861. So the long-entry spot for the trade-off is 64,500—65,000.
The normal place to enter longs is just the range between the two support levels above $BTC
BTC-1.18%
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