BTCUSD is trading on the resistance level of 7200$, if bitcoin breaks this level then we need to see if it resist again on the upper trendline of the channel which is 7250-7260$, the volume is not big enough and this indicates a reversal or correction from here.
if it can't break above it we can initiate a short position from this level 7250-7260$ with max Stop of 3%
if it can't break above it we can initiate a short position from this level 7250-7260$ with max Stop of 3%
Note
Another Channel can be drawn like this; and the bullish target will be 8k$ if it breaks the current resistanceTrade closed manually
New Idea Posted and Target Completed (tradingview.com/chart/BTCUSDT/zZU470H6-BTCUSDT-Double-Top-on-small-timeframe/)
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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.
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.