Hi all,
Just took profit on a few shorts back at 52k, adding them back in now at 55k.
Shorts are still in play as BTCUSD retested the previous support (black) now acting as a solid resistance. Shorts have been hit and a correction needs to happen.
Currently setting my take profit levels at a lower low than the previous drop since I still can't see a clear support level from it.
Regular divergences are showing up on the RSI 14 indicator (dashed lines) meaning that BTC is bound to retest the previous drop.
I still can't say that this insight would be accurate but I'm eager to see where this goes. Trade lightly and as always, trade at your own risk. Happy trading!