BTC Broke Last Downside. Retest Not bullish. Down to 17400.

11 thg 12, 2020

17400 is the next support for btc and seeing how harsh the daily close was, I expect for bitcoin to be bearish.
IMO it will be bearish for a few weeks/months as we are at the top of a distro phase.

If btc breaks through topside green box trade is closed.

11 thg 12, 2020

Ghi chú

Sketching placements are not exact timing wise but height is most important

11 thg 12, 2020

Giao dịch được đóng thủ công

Did not reach complete TP of 17400 but it did attempt a breakthrough with no success. It wicked off of 17570 instead (which was another support)
Still not a lossful trade.
I will try to get better at spotting which levels are the most powerful in the future ;)