By the time you read this, this post might be irrelevant. But I thought I'd point out an unusual observation in BTC price action over the past 16 hours on the 15 mins Bitfinex chart. Today, BTC touched or traded below 8000 no less than 10 times. But the unusual fact about that is that each time it did so, BTC could not close below 8000 based on the 15 min interval candle charts. At one point on the 9th touch, BTC was around 7930 and in the last 30 seconds prior to the close of the candle, BTC was ramped up to 8025 such that it closed the candle above the line. Someone is clearly on a mission to defend this for whatever reason. Maybe BTC is forming a base here afterall.. Regardless, 8000 is a clear short term pivot. Id obviously favour a long BTC here with a very tight stop on a close below 8000
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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.