BTC HFT Long Hypo: Possible Breakout North of 8k
Trying to stay flexible, (without driving myself crazy). Here's the case for a bullish breakout: three days of extended sideways action continually testing this upper range of resistance, next stop would be north of 8k.
Trade active
Wouldn't be surprised to see price run toward 8k with a harsh rejection a hair under, (7948-60's) -depends on how many shorts would get liquidated in that scenario.Note
careful of that larger rising wedge pattern though... It's why I'm arbitraging with a 4k target.Trade active
Careful of scam wicks, stop is in profit & won't be surprised to see it hit. Let's see how much steam this pump has, otherwise it'll dump hard the opposite direction imo.Trade active
$15 from the 8k hurdle, tbd if it's got enough steam or if we'll see a rejection off this level. Stop in profit low 7900's.Trade closed: target reached
Target hit 8180 to the dollar.
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.