Short BTC: Upon breaking the Confluence at Daily Support
Updated
As you can see in the chart, BTC has respected the short-term and mid-term trends while having tested the weekly resistance multiple times unsuccessfully. Now it faces a confluence at daily support (previously daily resistance) where the short-term trend has to be broken too. Once broken, in my view, there is a 70% chance that BTC will respect the mid-term trend and reverse from around 20500. Otherwise, it may test the daily support going below 19500.
This is not a financial advice. Be careful and goodluck.
This is not a financial advice. Be careful and goodluck.
Trade closed manually
The market did not yet go in the direction of this trade, so the trade did not initiate which is commendable too!ps. btc has broken the long-term trend line. this could mean a big trap or a big opportunity window to amicable exit from troubled positions. be careful.
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