BTCUSD: Do NOT buy!
Just a quick post with a warning:
This is NOT a buy. The market has broken through every support area that mattered. The market looks structurally very weak at this level. There is plenty of room to the downside from here with very little market structure to lean on.
The next potential support areas are around 24000, and then 20000.
For now, traders should be seeking to go short against any pullbacks in this market.
Don't try to catch a falling knife.
This is NOT a buy. The market has broken through every support area that mattered. The market looks structurally very weak at this level. There is plenty of room to the downside from here with very little market structure to lean on.
The next potential support areas are around 24000, and then 20000.
For now, traders should be seeking to go short against any pullbacks in this market.
Don't try to catch a falling knife.
Penafian
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