As I expected, Bitcoin reached exactly my Sell Limit order at $17,337 yesterday. Got a small profit of 5.5%. Then there was a local BTC correction and an uncertain attempt to return to the previous values.
Jerome Powell's speech has just ended - nothing more than positive or, on the contrary, negative was said. Therefore, I expect two scenarios for Bitcoin.
1. Growth attempt and correction followed by a rebound from the local trend support level (yellow).
2. The same - but the local trend support level won't be able to stop the fall of BTC - which will lead to its decline to approximately $16,300 - 16,500. From there, I expect a rebound, or at least an attempt at it. I also do not exclude that the rebound will be false and the decline will continue even lower - to $ 15,000.
Now there are many uncertainties and you need to be extremely careful. Using Stop Loss orders is a must.
#BTC #rebound
