The price broke 19 000$ resistance, and it gave a bullish signal. The buyers are doing all the best in order to update ATH. Probably 20 000$ will be reached within several days, and we will see an attempt to break it. I won't be surprised if we get a false breakout.
The upward movement and how the price breaks resistance tells us that the buyers are in control of the market. It is obvious.
I'm watching for the market and the price action at key resistance. I don't have long positions, and I have to wait for a solid bearish setup in order to catch a pullback. I wrote many times that I don't short crypto. There were reasons for this. But now, the price is not far from ATH, and the market will be able to provide amazing short opportunities in the BTCUSD market and top altcoins as well.
The correction movement toward 18 000$ - 17 600$, 16 000$, and reversal signals from these zones will be good for buying. The market can move toward 30 000$ after the correction, and long positions from the support will make sense.
What about you? What is your trading plan? Please share in comments, let's discuss!
Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Hmm... I won't be surprised if we get a false correction when we hit 20k.... literally everyone and their grandmother are predicting that BTC MUST fall 30% once it hits 20k. I'm currently seeing a higher probability that BTC just smashes through 20k with a temporary couple to few days of sideways action to pile in shorts for the upcoming liquidation to fuel the fire to 30k.
chafiz
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@ich1baN, Hi, it is also possible scenario (to hit the range 27k - 30k). Then the pullback could be to 20k - 22k, instead of 13k -16k written above.
But we will see when we get first to 20k we are not still there :-)
ich1baN
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@chafiz, agree with your view Chafiz - 20k will be an interesting moment as years of locked emotions will all of a sudden be unlocked and it is of course a key psychological area.