XBTUSD 07.11Good day,
Selling XBTUSD between 9450-9500$ with stoploss ~ 9630$
Take profit #1 - 8950$
Take profit #2 - 8530$
idea invalidated with 4H close and open above 9630$ .
#RR ratio ~ 7
Good luck,
Stay safe.
Xbtusdsell
XBTUSD Market Structure Analysisif you have your market view, please share it in comments
Also you can ask me questions...
Have a great day everyone!
XBTUSD UpdateJust an update with some explanations of my simple analysis. I guess it speaks for itself. We might see a stop hunt whale move in the opposite direction as the general expectation is quite evident. Always be safe adjust your risk management accordingly.
Be safe and DYOR.
Added Target 4: 6800.
XBTUSD FLAG PATTERN Flag formation occurred. Points that need to be broken , destinations are specified on the chart.
Bitcoin moving within critical RedZoneBitcoin Technical Overview:
Key Resistance: $6280 - $6340 - $6392 - $6450
Key Support: $6230 - $6170 - $6116 - $6036
Technical Indicator:
RSI: RSI lacks upside momentum, in chart dotted red line is strong resistance for XAUUSD.
MACD: Indicator having strong seller volume.
Moving Avg: SMA50 ($6388.41) & SMA20 ($6434.35) strong resistance for the day (4H Chart).
Most Likely Scenario Short Below $6400 with target $6150 - $6036 in extension.
Alternative scenario Long Above $6400 with target $6465 - $6520 in extension.
Overall, Cryptocurrency market value dropped back below $200B, Bitcoin has returned to critical support level created by $6,100-$6,200. Once it is cleared, the decline may be extended.
Thanks
YoCryptoManic
