$7200~7300 became resistance area again, short is still main act
https://www.tradingview.com/chart/T4dJcKED/
Yesterday, i told that $6950 will be an effective axis line of this consolidation area for this month if the trend break through $6950, and now became the truth, and the upward resistance is still amaong $7200~$7300, and price was suppressed around $7200 is in expectation.
Someone will ask me why i am sure about this, plz change ur sight to the volume chart, we could see clearly that after breaking $6950, the volume level of the rebound has been reduced obviously, and remember that if price rise but volume reduce, it's a classical weakening of the rebound strength pattern, and long position of short term traders should close ur account around here, as the pullback may happen in next few hours.
Even though there is a possibility that after a few hours condolidating, trend may continue to rebound if the bullish volume grows again, but remember guys, it's now in a narrow shock trend, the volume is hard to reach to a high level again after a rebound, therefore, even the rebound is likely to continue, it's not a good choice to hold if u have a strict trading system, it's enough to earn some profit in this kind of shock area, don't be greedy to wish more, or u will lose the previous profit u should earn.
Here i also only give hourly trading signal to these short term traders, don't be greedy!
🚀BTC Trading signal: Pre-condition: trend still suppressed by 7200~7300 and many candesticks are closed with long upper shadows, bullish volume doesn't have an increasing signal.
short: open around 7200~7300
close 1: 7070
close 2: 6950
close 3: 6800
stop loss: 7400~7450 Become member of OKEx and enjoy more services : okex.com/join?channelFlag=ACECO2501021
Yesterday, i told that $6950 will be an effective axis line of this consolidation area for this month if the trend break through $6950, and now became the truth, and the upward resistance is still amaong $7200~$7300, and price was suppressed around $7200 is in expectation.
Someone will ask me why i am sure about this, plz change ur sight to the volume chart, we could see clearly that after breaking $6950, the volume level of the rebound has been reduced obviously, and remember that if price rise but volume reduce, it's a classical weakening of the rebound strength pattern, and long position of short term traders should close ur account around here, as the pullback may happen in next few hours.
Even though there is a possibility that after a few hours condolidating, trend may continue to rebound if the bullish volume grows again, but remember guys, it's now in a narrow shock trend, the volume is hard to reach to a high level again after a rebound, therefore, even the rebound is likely to continue, it's not a good choice to hold if u have a strict trading system, it's enough to earn some profit in this kind of shock area, don't be greedy to wish more, or u will lose the previous profit u should earn.
Here i also only give hourly trading signal to these short term traders, don't be greedy!
🚀BTC Trading signal: Pre-condition: trend still suppressed by 7200~7300 and many candesticks are closed with long upper shadows, bullish volume doesn't have an increasing signal.
short: open around 7200~7300
close 1: 7070
close 2: 6950
close 3: 6800
stop loss: 7400~7450 Become member of OKEx and enjoy more services : okex.com/join?channelFlag=ACECO2501021
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