Daily close today broke key trend line support. Retest of the ~$30K region seems like the likely shorter term outcomes for BTC. Bearish view points to consider over the long run from here if this scenario plays out:
* Trading range Demand zone and fib level golden pocket support around the $28-$30 price region
* Daily OB support at $23k and $19-$20K (also prior cycle ATH)
* 200W SMA support (cycle bottom) - NOTE: BTC has wicked to the 300W SMA in the past
APPLY RISK MANAGEMENT ON ANY RELIEF RALLY MOVES
* Trading range Demand zone and fib level golden pocket support around the $28-$30 price region
* Daily OB support at $23k and $19-$20K (also prior cycle ATH)
* 200W SMA support (cycle bottom) - NOTE: BTC has wicked to the 300W SMA in the past
APPLY RISK MANAGEMENT ON ANY RELIEF RALLY MOVES
