$BTC 08.02 The Last Two Opportunities for Bulls
▶️ Happy Weekend, the market should stay in the range of 112600-115500 for the next two days. Taking this opportunity, I want to share the expectations for the upcoming market.
✅ First of all, as mentioned, there is currently a bearish trend, and it is possible to short on rallies, but there are still opportunities for bulls—there are two last chances.
1️⃣ The current position is an opportunity; there is a false breakout expectation for the channel. If the weekend closes above 114400, there could still be a chance, and we can first look towards 115500. If it doesn’t close above, we continue to look down ⬇️.
2️⃣ If it doesn’t close above, the last position for bulls is at the daily trend line, roughly around 111888-111688, which was also the spot arranged a month ago (you can check the records). At that time, it was arranged for 50%; if you're scared, you can enter 30% or not at all.
⚠️ So this article has 3 long and short positions, and the smart ones among you must have noticed.
1️⃣ If you want to short on rallies, the aggressive target is 115500🈳, stop loss and then go to 117200-118200, etc.
2️⃣ If you think this is a false breakout, go long at the current price, with a stop loss at the previous low or a big stop loss at 112000.
3️⃣ The final position for bulls at the daily trend line is 111888-111688; you can leave a thousand-point position for averaging down to prevent a false breakout.