BTCUSD - The Pump before the instant rejection @ 11.2K
Updated
I, personally, would not be getting excited about any type of long-term bullish movement. Given the current conditions of this market, the volume, and based on the previous price action we have thus seen, breaking over 11.5K to rally for the 14K retest would come as a huge shock to me.
I've been calling one more 11K retest for a while before we inevitably take one more huge dump down to break that 9.2-9.5K support level. This support has been tested multiple times thus far, and therefore it's inevitably going to burst. The more an area of support or resistance is tested, the more likely it is to break once big money is satisfied.
I'm calling a drop to 8K.
Maybe this will surprise me and volume will finally come in here, but I'm not holding my breath.
I've been calling one more 11K retest for a while before we inevitably take one more huge dump down to break that 9.2-9.5K support level. This support has been tested multiple times thus far, and therefore it's inevitably going to burst. The more an area of support or resistance is tested, the more likely it is to break once big money is satisfied.
I'm calling a drop to 8K.
Maybe this will surprise me and volume will finally come in here, but I'm not holding my breath.
Trade active
Opened a short below our monthly support.Should see a re-test of 9.4k
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