Bitcoin stretched closer to that psychological $11k mark providing great opportunities to scalp to the long side on the 15min chart. It was practically non-stop buying from 12:30 UTC to 8:30 UTC. This type of price movement is why most people will be looking to jump on the Crypto Trading bandwagon in the coming years as the opportunities are immense. We still remain Bearish for the near term future with the current moves seen as a continued C Wave. Although there is heavy overlap at this point the invalidation of the C Wave would occur at around $12k. There is an expected price rejection at the psychological $11k area and could be the place where Bulls take their profits.
News:
Bitcoin Nears $11k Again:
It hard to love this as a C wave that just goes on for days considering the time its taken and the comparison to the size of Wave 1 & 2. However, until this C was is invalidated at $12k we will accept it as a C Wave and play it for short scalps to the long side along the way. When it does hit $11k we expect to see a rejection at that price level if it does make it that high.
