If BTC breaks support @ 7500...
Updated
1. Upper resistance @ 10000
2. Current support @ 7500 (currently testing)
3. Next level of support @ 5500-6000
4. 8-day EMA has been dynamic resistance level the entirety of 2018 (with the exception of a few false breaks)
5. Bullish Pin bar but...
-poor risk reward ratio
-countertrend
6. EFI is negative
7. A counter trend trade RIGHT NOW with a tight stop would have a great risk/reward ratio but also has a high chance of failure
2. Current support @ 7500 (currently testing)
3. Next level of support @ 5500-6000
4. 8-day EMA has been dynamic resistance level the entirety of 2018 (with the exception of a few false breaks)
5. Bullish Pin bar but...
-poor risk reward ratio
-countertrend
6. EFI is negative
7. A counter trend trade RIGHT NOW with a tight stop would have a great risk/reward ratio but also has a high chance of failure
Comment
7 (updated)...please don't entertain this countertrend trade idea too seriously. I probably won't take it myself and will probably regret it if I do.Comment
Also 6. is mislabeled as 5. on the chartComment
Could potentially still be a false break of support but I wouldn't bet on it.Comment
Dropping fastComment
Bounced off of support. Watching to see how strong bounce is.Comment
Good bounce that is already testing resistance again. Volume has also really shot up.Comment
1 HR chart--still could be a false break of resistanceDisclaimer
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