62K for entry 57.8K for target

10 ต.ค.

Morning folks,

So BTC has failed to break the vital 64.5K resistance that we've talked about last time. It means that context remains bearish and chances on downside AB=CD have increased. Especially on the back of outstanding rally in USD and US yields.

It makes us to consider no long positions by far, treat former 64.5 top as invalidation point and watch south. Nearest downside target seems to be around 57.8K.

For position taking it is possible to consider 62K intraday resistance, if you have plans to sell.
For long position taking we need to get either failure of current bearish scenario and rally above 64.5K top or deeper standing support areas. We have nothing yet, so let's wait with any longs by far.