Yup, BTC did break down. It ranged up a little bit more before it did but then it lost support and had a 2.34% drop. If one had placed a short with a stop loss above the fib with 10x leverage that would have been a 23% move. When a chart is at support on a trend line it is a great time to either setup a position for a long if the larger timeframe trend is in an uptrend or a short if it is in a down trend. In this case if one was to zoom out on BTC they would see it is in a larger timeframe downtred

NFA, but BTC looking like it might wanna break down What yall think?

Remember the other day when I said not to short? Hopefully nobody got caught in the short squeeze. BTC on the daily hitting the 20 day ema and breaking into the 236. Also formed a higher low :) now we just need a higher high for it to truly be a reversal

BTC on the daily is still in a sell and testing the 300% line on the fibs to the downside. Looking at the stochasting and the MACD its looking pretty weak to me. There is possibly a first drive of bearish divergence on the RSI though. So always a good time to DCA and continue to accumulate .As far as shorting goes ideally want to wait to see if it can hold and close at this support level. And if not then thats a sign for more potential downside

Remember the other day when I said dont chase the green candles. Well BTC is now sitting right at support on the trend line. It needs to hold around 67k for this support to remain valid and in this current trend. NFA but these are the times where DCA'ing makes sense or setting a stop limit order could be helpful below 67k just in case there is a move up. Drawing trend lines is an incredibly helpful way to see whats going on at a real foundational level