BTC in No Man's Land But Big Dump Incoming
Hello fellow traders
- Since November 22nd, BTC has been operating in a range of 6400-7700 with plenty of fake breakouts
- Last few days in a tight range between 7000 - 7300, acting as support and resistance, respectively
- 7000 has been tested multiple times and might not hold for the next drop
- Bears maintaining a strong grip - pushing down prices on every pump while bullish pumps are on low volume
Now is a good time to open a short position
Open position: 7200-7280
Targets: 7080/6950/6800
Stop loss: 4 hourly close above 7370
I strongly believe we will be testing the 6400-6500 soon at which point I shall look at the PA to determine the position to take.
Stay safe and happy holidays to you all!
- Since November 22nd, BTC has been operating in a range of 6400-7700 with plenty of fake breakouts
- Last few days in a tight range between 7000 - 7300, acting as support and resistance, respectively
- 7000 has been tested multiple times and might not hold for the next drop
- Bears maintaining a strong grip - pushing down prices on every pump while bullish pumps are on low volume
Now is a good time to open a short position
Open position: 7200-7280
Targets: 7080/6950/6800
Stop loss: 4 hourly close above 7370
I strongly believe we will be testing the 6400-6500 soon at which point I shall look at the PA to determine the position to take.
Stay safe and happy holidays to you all!
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