According to my 1D TF Theory, a 1D candle close above this level has a high likelyhood of thereafter producing a 1D SFP at the 78k lows level, which would produce the HTF HL for HTF bull trend continuation.
So we would look for 1D CC above this level > short opportunity above this level > exit at 78k level.
No 1D candle close above this level would cause a great probability of price not holding the 78k level and break down to atleast 48k level instead.
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Why this level? because on the 1D TF, this level is the first level which stands out after the initial ATH level of 17 December.
So we would look for 1D CC above this level > short opportunity above this level > exit at 78k level.
No 1D candle close above this level would cause a great probability of price not holding the 78k level and break down to atleast 48k level instead.
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Why this level? because on the 1D TF, this level is the first level which stands out after the initial ATH level of 17 December.
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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.