Possible short term bounce

Reasons why we can bounce here.

1. Horizontal resistance which reacted with stronger buying volume.
2. Daily stochastic RSI is dead. Last time it was so dead it was in 2016 and strong upward movement begun.

3. The angle of falling is too high. I made an analysis of angles of trends here

4. BTCUSD Shorts chart shows outstanding growth. 60% within a week. Bear trap?

I closed short around 6340. If we break support 6150 I go short again but it's not any long opportunity. Resitance lines are too tight and my major rule "DONT LONG THE BEAR".

Trade ativo:

Nothing really changed here. We slowly go up to resistance area. Still expecting reaching 6700-6800 probably within 2 days. Price action in higher timeframes looks rather sluggish but lower time frame look good for scalpers. Many wicks, wash trading and stop hunts. I update this idea to mention it is still active :)

Trade ativo:

I expected some bounce from buyers but they failed. Potential H&S structure is broken what is even more bearish. 5850 is strong support and BTC will try to break it few times. My bearish scenario to 5200-5300 is active of course.

I go short here to previous low at 5750 then we will se what's next. Stop loss at 6150.


Hypotethical price action