Bitcoin has officially closed Daily below Ascending Triangle top establishing a deviation/invalidation to the pattern. Now we as traders need to be willing to adapt and shift our bias.

Below 44.5-45k, we are back in the trading range from the beginning of the year which leaves the door open for a retest of range lows around 35k. Personally, I think bulls need to hop for 40k to hold to avoid a long summer of bears being in control.

Notice that price has been held under 8EMA since yesterday morning. Looking for 2 candle closes above to show bulls want to stop the bleeding.

I think we fill at least 41.2 nPOC before a recovery from here. We could see a bounce before but I think 41k before 46k .

Trade Alts cautiously and know that any pump can quickly be thwarted now that bears have the edge again. Daily close above 45k and bears will start to squirm again.
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Top 10 trading tips:
1. DO NOT FOMO into a trade. Let it come to you. Don’t force it.
2. Find a strategy that works for you and be consistent. Operate like a machine and less like the wind.
3. Let your winners run and cut your losers short.
4. You will not win every trade, but if you are disciplined with great RM you don’t need to be right all the time to win!
5. Before you enter a trade, know your target AND your exit strategy.
6. Never use just 1 indicator for confirmation.
7. Set Perimeters and remove emotions from the equation. (stop loss, take profit levels, etc)
8. Don’t fight the trend. The trend is your friend.
9. Price Action greater than Indicators/Fractals/MAs
10. Horizontals greater than Diagonals

Please Note:

– This is not financial advice.
– I do not take every trade I post.
– Never trade off of someone else’s chart until you DYOR!