Price shows anomalies throughout the time frames from 15m to 1D creating much confluence.
BTC in downtrend.
OBV close to it's highest values from 26th Oct which were followed by a dump.
4h shows double top which is another good indication of momentum going down.
RSI coming down from very high values around 80. Dobuble and triple tops on smaller time frames.
VPVR resistance at 9.2 level which is the entry level.
Another DCA entries at 9.3, 9.4, 9.5 in case of another anomalies pushing price up.
Medium to high probability trade.
Short with laddering TP at 8.3 which is daily support and further at 7.8 which is last resistance from VPVR.
BTC in downtrend.
OBV close to it's highest values from 26th Oct which were followed by a dump.
4h shows double top which is another good indication of momentum going down.
RSI coming down from very high values around 80. Dobuble and triple tops on smaller time frames.
VPVR resistance at 9.2 level which is the entry level.
Another DCA entries at 9.3, 9.4, 9.5 in case of another anomalies pushing price up.
Medium to high probability trade.
Short with laddering TP at 8.3 which is daily support and further at 7.8 which is last resistance from VPVR.
Trade closed: stop reached
When the price dropped on 10 Dec to 9.2 should have sold 50% of the position after two green anomalies on 1h and possibly reduce loss after of rebuy at higher point, be it 10.4 or 10.5...This could have been cup and handle pattern indicating further move up.
Price was creating higher lows and up trending indicating that this trade should be closed even on loss.
Situation ambiguous after 5-10-15 another candles.
Anomalies appeared to be not strong enough.
It looks that there was stop hunting with spike of the price to 11.5 with subsequent fall.
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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.