[11 Feb] Bitcoin Intraday Short Opportunity

11 Feb 2021

Previously, we have identified a 28k consolidation area where we expect price level to consolidate before a BULLISH continuation. Personally, I feel that this TA analysis is still valid as currently bitcoin price movement is greatly affected by "HYPE" and directionless buyers. This is a short update for our previous call. Moving to our intraday trading opportunity, we can see that there is great BEARISH pressure at 48200 ish price level with a 361.8% fib level there. For now, I am expecting a BEARISH retracement to minimally a retest of our MA although there is a potential 42000-43000ish movement. However, I will keep this trade an intraday trade signal thus as of now this is my TP and SL.

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