BTCUSD - Short off resistance (and potential fractal)
Just an idea I'll be watching to see if it plays out. Pattern is emerging. One seen often with this pairing.
We dump to a local low, bounce to test next resistance, retrace toward that previous local low but find support earlier, retracing toward that previous resistance line, forming ascending triangle (or double bottom) and breaking through.
For now, I think we go back to 30,500-600 area and fulfill that fractal.
We dump to a local low, bounce to test next resistance, retrace toward that previous local low but find support earlier, retracing toward that previous resistance line, forming ascending triangle (or double bottom) and breaking through.
For now, I think we go back to 30,500-600 area and fulfill that fractal.
Trade closed: target reached
Our short was reached. 35.7k line turned out to be resistance and we are shorting again.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.